ZCash double bottom

Coin of the day is ZCash.
One of the Altcoins that are showing growth during the BTC upward rally, which tends to oppress Altcoin prices across the markets.
Zcash is one of the privacy-oriented coins forked from the Bitcoin Core, with its unique vision of selective transparency of transactions. The founder and CEO of Zcash Company is Zooko Wilcox-O'Hearn. Its founding team includes cryptographer Matthew D. Green from Johns Hopkins University.
What differs the concept of Zcash from other privacy-oriented coins is that Zcash allows private transactors the option of "selective disclosure", allowing a user to prove payment for auditing purposes. One such reason is to allow private transactors the choice to comply with anti-money laundering or tax regulations. "Transactions are auditable, but disclosure is under the participant's control." Wilcox has hosted virtual meetings with law enforcement agencies around the U.S. to explain these fundamentals and has gone on the record of saying that "they did not develop the currency to facilitate illegal activity". It is likely that this vision made it possible to consider listing Zcash on the Gemini exchange.

Technicals
Listing on Gemini did not manage to send the coin in the steady uptrend; conversely, the coin went into a downtrend after drawing a peak at 0.045, ZECBTC. Today ZEC showed us a breakthrough above 0.026 level confirming the formation of a double bottom pattern with a base on the 0.024 level, which should play a supportive role in the turnaround scenario. Strengthening above 0.026 level should be considered as a bullish signal. If we see an uptrend scenario development - the next resistance will be 100-days EMA. From the broad view, the coin price is lying slightly above its all-time low at 0.0175, so a breakthrough below 0.024 carries the risks of updating the lows.