I think a lot of people are looking at $ZEC the wrong way.
They see months of sideways price action and assume nothing is happening.
I see something different.
After one of the largest percentage moves in crypto, Zcash has stopped correcting in price and started correcting in time.
That's an important distinction.
Rather than giving back the entire move, price has been building what appears to be a macro ascending triangle:
• Higher lows continue to develop.
• Major resistance remains around the $590–600 area.
• Volume has steadily contracted during consolidation.
• RSI has reset while price has largely held its gains.
That's exactly what I'd expect to see if the market is digesting a massive markup rather than beginning a new bear trend.
Ascending triangles are generally continuation patterns.
If this structure continues to mature, patience could be rewarded much more than trying to trade every short-term move.
I'm not expecting an immediate breakout as that might not happen until the end of the year based on this structure. We are getting to the point where certain alts will run differently than others when they do, versus as a group.
More consolidation could actually strengthen the eventual move for Zcash.
Sometimes the most bullish thing a market can do... is nothing at all.
Structure first. Patience second. Narrative last.
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