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- ZCASH coin is showing a positive trend and can give a breakout above the level of $100
- Zcash price today is $92.56; with a gain of 6.8% in the last 24 hours and having 1.3% gain from last week
- The Zec/BTC pair performs positive with an overall gain of 5.18%, trading at the present level of 0.002699 BTC
After making a 52 week high of $120.89 on Jan 13, 2021, ZCASH projected a negative retracement, but now it is showing a positive pullback. The Zec/BTC pair broke resistance of 50 MA and marked a bullish momentum with a gain of 5.18%. It is now heading to the next resistance zone.
ZCASH TECHNICAL ANALYSIS
The weekly technical chart of Zec highlights the ‘Bulls On-Run’ in today’s trading session. The Zcash coin current price is $92.42, with a resistance of $105.25 and support at $74.4. The price is above 50 and 200 days Exponential Moving Average (EMA). The 50-EMA red line at $77.23 is making temporary support. As the ZCASH coin price has made a bullish engulfing pattern in the previous trading session, a further upward correction can be seen. The volume of Zcash has seen a major gain of 22.69% and the market capitalization went up by 4.31%.
MACD (Bearish): The levels showcase a positive crossover signal in the previous trading session. The MACD indicator reflects bearish momentum in the coin. Bars of histograms are also indicating bearish momentum.
RSI (Bullish ): It is trading with a value of 54.56, indicating that the coin is in bullish momentum and heading towards an oversold zone. A positive slope is observed in the RSI showcasing Zcash coin may go up further above in the upcoming trading days.
CONCLUSION
Zcash coin trading consolidation zone with an indication of bullish momentum on its way. ZEC/BTC pair has broken the 50 MA resistance and can rise to the new levels. Investors should invest as per their risk capacity.
Technical Levels
Major Resistance:$105.25
Major Support:$74
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
