The ZEC cryptocurrency is one of the few that can be called growth-charged. The main growth trend on the ZEC chart was reversed long ago, in the summer of 2021. It is even better for investors who do not feed themselves with hopes for its continuation. Meanwhile, since May 2021, the ZEC price has been moving in a corrective fall channel. Note that the slope of this falling channel is quite small. Buyers were able to easily organize deep corrections in the ZEC market.

The latest fall wave of the ZEC cryptocurrency has clearly shown that buyers are ready to take the initiative. Sellers failed to update the local low with dignity and touch the bottom of the channel's trend line. In most cryptocurrencies, the 9 May weekly candle has a big pin down and the 16 May candle looks deplorable. In the case of the ZEC cryptocurrency, 9 May and 16 May weekly candles show a good price buyout. While the $90 range is under buyers control, we expect a new growth wave with the first global target of $221. The first local target is inside the drop-down channel - $140.
<h2>Technical Analysis Of ZEC On The Daily Timeframe</h2>
<img src="https://s3.tradingview.com/snapshots/q/QslqRUCF.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/QslqRUCF/" target="_blank" rel="nofollow noopener">https://www.tradingview.com/x/QslqRUCF/</a>

Analyzing the movement of the ZEC price on the daily timeframe, you can see the local success of buyers. Having organized a local growth wave by 65%, buyers stopped for a vacation. During this time, sellers managed to correct the previous local wave of growth by only 50%. This is a relatively weak correction, which indicates the potential for continued growth with the next target of $1.42. It is likely that a new fall wave will begin from this range, which will show how strong sellers are now. Given the fact that the <a href="https://www.cryptoknowmics.com/news/btc-technical-analysis-btc-back-above-30-prepares-to-stay/">BTC</a> price is rising, the probability of realization of our main scenario is as high as possible.
<h2>The ZECBTC Price Broke Up A 5-Year Downward Trend</h2>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/e/eH82pwHl.png" alt="ZEC" width="1700" height="1073" />

<a href="https://www.tradingview.com/x/eH82pwHl/" target="_blank" rel="nofollow noopener">https://www.tradingview.com/x/eH82pwHl/</a>

Great news for ZEC long-term investors. We waited. The ZECBTC price is not something that broke the global upper trend line of the falling channel. The price tested it after the breaking. And considering how the weekly candle from 9 May closed - the test was successful. We expect the beginning of a new growth wave with the first target in the range of 0.0084. This will be just the beginning of a global growth trend. How active will ZEC grow over the next time? It all depends on the global background of the cryptocurrency market.

ZEC Technical Analysis: The Long-Awaited Global Reversal

Meanwhile, since May 2021, the ZEC price has been moving in a corrective fall channel. Note that the slope of this falling channel is quite small.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

ZEC Technical Analysis: The Long-Awaited Global Reversal

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