@cryptonite 14 June 2020 more from that month

Privacy Coin Weekly Recap: Monero & Zcash end flat, Dash lose ground

Hello everyone today I would make a recap of the 3 top privacy cryptocurrency  by market capitalization, the week was flat for almost every big cap and the privacy sector didn’t make an exception,  even in this situation we can discovered new pattern and maybe new target for all of them.

Lets see the chart that compare those three crypto and we will see that **Monero** and **Zcash** make a flat performance, around zero percent, this wasn’t the case of **Dash** that wasn’t able to make the same performance and lose a 4%, this negative performance was made despite a good growth on **Dash** payment and usage in the last quarter.   **Monero**

From the chart the first thing that we can notice is that the **uptrend** is no more valid, instead we start to see a **trading range**, that’s not very negative for the holders of the most capitalized crypto in the market, sometimes this kind of pattern are healthy for take back some strength as the run was long and maybe **bulls** lose some motivation.

The new **trading** **range** seems pretty much narrow but as this is the start of the formation we may expect a larger distance between the lower and upper band, at 63 Dollar we can identify the lower band of this new pattern and at 69/70 Dollar there is the upper band, this price is an historical  **resistance**. As **support** and **resistance** we have the fisrt support at 63 Dollar and the second level at 60 Dollar, the resistance at 69 Dollar is pretty strong and it match with the **Fibonacci** **retracement** at 61,8%, thank to that we must be very careful when we will be around that price. As I say frequently the 61,8%  retracement is always a key level and can drive to some sudden movement with a high volatility. The battle between bulls and bears at 69 Dollar could be very difficult to win but if bulls are able to push upward we may see a very fast growth of **Monero** price.   **Zcash**

As we can see from the chart **Zcash** uptrend is still solid and the valuation is now landed on the **trendline**, this could drive to an interesting jump upward with a target that we can fix at 55,5 Dollar, after this price the next resistance is set very high at 63,70 Dollar. In case **Zcash** will lose some more ground and **breakout** the **trendline** we must be prepared to revisit the 48 Dollar as we see the first support and 44 Dollar if the bears will take the lead, I have to say that all the support are negative as everyone of them is lower than the **trendline**, than we must pay a lot of attention at the next move.

As we see for **Monero** we may find a trading range in case the price will be weak, a downtrend is not the best prediction as the chart show us some strength, my personal view on **Zcash** is positive and I not see much space for an hypothetical bears lead.     **Dash**

As we can see the **Dash** chart is still in a trading range since almost 3 month now, this pattern is narrowing in the latest weeks and at the moment, the new range have a lower band at around 70,5 Dollar and a upper band at 79,60 Dollar. This 10 Dollar range squeeze the price and the volatility, usually this not last for long before the volatility explode in one direction or another, we may expect a bounce back to the upper range, in this way we may test the strength of the **bulls** that could take the lead. If the **momentum** will be **bullish** we could easily see the test at the 89 Dollar that is the real target everyone wait for. If **bears** are able to push down the valuation we may expect to revisit the 68 Dollar first and the 64 Dollar area in a second selling wave.   As we can see even in a flat week we can extract some useful information, the evolution of the charts seems to be neutral so far, my guess is that we may see some interesting movement when **Bitcoin** and/or **Ethereum** will “make some noise” …I just hope that the direction of this movement will be bullish 😊 Thanks for reading and remember to do your own research before investing You can follow me at **Publish0x** **Twitter** and **read.cash** https://www.publish0x.com/@Cryptonite https://twitter.com/CryptoniteK https://read.cash/@cryptonite