The red wicks look like a move to get people to FOMO and panic buy/sell. Basically shake them out out of their positions.
Then I noticed the trend has also been bouncing off the pink , that, together with resistence around ~$450 makes a pattern. Meaning we've been hitting resistance but also making higher lows.
It does look like we have popped out of the green consolidation area with a slight increase of .
So, so far we have:
Accumulation area with an increase in and moves to shake people out, which could signal a major move relatively soon.
At the same time the Zcash Trust has launched: https://grayscale.co/zcash-investment-tr...
We're getting close to the Sapling Release with improvements as "80% reduction of proving time, and a 98% reduction in memory usage which is a key requirement for opening up mobile support for Zcash shielded addresses."
So we have some technicals aligning with fundamentals.
On the other hand, however, we have some high on Bitcoin because of Bcash and are mid altcoinwinter. So those are some things to take into consideration.