Zcash Heading Towards Target $75?

  • The coin give breakout after consolidating between $50.50-$58.45
  •  A new day time high in terms of daily transaction count was witnessed in ZEC witch is one of the most popular privacy-focused cryptocurrency
  •  The crypto asset currently trading at the level of $66.50
Source: Tradingview

The 4-hours chart of the coin market indicating an uptrend after making a low of $50.45 and currently trading at the mark of $66.50. The indicator gave support to the price of the coin and over the weekly chart the price climbed up 18% and the breakout from the symmetric triangle pattern the coin gives a bullish move in the last trading sections. 

As the coin has the strongest support of $51.10 and $68.05 acts as a resistance level, however, the weekly chart has another support at $59.10 at as another support for the crypto asset.a price increment

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The script tracks full node statistics and detected an amazing spike in its shielded transaction count due to this the price shows a bullish movement for this change. 

Source: Tradingview

MACD levels are representing volatile nature which is followed by both bullish and bearish crossovers. However, the magnitude of positive movement provided by the bullish crossover is much more which has resulted in significant gain under the current marker session. 

Source: Tradingview

The moving averages of 9-days, 21-days, and 50-days gave a crossover witch is the bullish signal for the crypto asset and after the crossover, we saw an increment in price, and after that mixed-signal indicate the volatility over the coin if the crossover of 9 days MA and 21 days MA happens we can see a downside in the coin. 

SUPPORT LEVEL: $51.10 & $59.10  


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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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