Zcash, TRUMP, 88% Surge vs Plunge Crossroads...Where Will They Head Over the Weekend?

▲ Zcash (ZEC), Official Trump (TRUMP)/AI generated image

As the possibility of volatility concentrating around specific altcoins over the weekend increases, a short-term trading turning point is forming.

According to crypto media outlet BeInCrypto on April 24 (local time), on-chain positioning, derivatives flows, and chart structures are intertwining, creating a critical zone that will determine the direction of major altcoins over the weekend.

Zcash (ZEC) has seen a strong bullish scenario presented, with increased institutional mining participation and technical patterns forming simultaneously. After Foundry's institutional Zcash mining pool launched around April 13, it attracted significant hashrate, signaling expanded network participation. On a daily chart basis, a cup-and-handle pattern has formed, with a rise from a low of approximately $190.60 to $393.98, currently forming the handle segment around $341.14.

Technically, the 50-day exponential moving average is approaching the 100-day exponential moving average, raising the possibility of a bullish crossover. The key variable is whether the neckline, located above approximately $400, will be broken. If it breaks above the Fibonacci 23.6% retracement line of $346, the $400 range will open, and if it surpasses $424, the cup-and-handle pattern will be completed, presenting a maximum upside scenario of 88.94%. Conversely, if it falls below $298, the structure weakens, and if it drops below $232, the bullish scenario is invalidated.

Official Trump (TRUMP) is expected to experience event-driven volatility ahead of the Mar-a-Lago crypto conference scheduled for April 25. Although it has fallen by about 14% in the past month, Binance derivatives data shows long liquidations totaling $11.26 million and short liquidations around $10 million over a 7-day period, confirming a slight long position dominance in the market.

However, the price structure still maintains a bearish trend. TRUMP is located around $2.85 within a descending channel that has continued since January 14, with the key support level of $2.76 identified as a short-term turning point. A break below this level could trigger long position liquidations and amplify further downward pressure. Conversely, if an event-driven rebound occurs, there is potential for an approximately 20% rise to $3.44, but a structural bullish reversal would require a close above $3.86.

With institutional supply and demand, technical patterns, and event variables all interacting, the altcoin market has entered a critical phase over the weekend, determining its short-term direction.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*