Zcash Price Analysis: ZEC Price Can Touch $300 Mark Soon

  • ZEC price is currently inside an accumulation zone with a loss of 0.9%. A recovery to higher levels can be expected in upcoming days.
  • Technical Indicators hints at positive momentum for ZEC price . Meanwhile, the ZEC/BTC pair is seeing a gain of 1.76%.

 Zcash  price is currently trailing at  $153.34  with a loss of 0.9% in one day. ZEC price may find resistance if it climbs to $200Zcash price support region can be observed at $100. The  price is trading above the 50 and 100 Daily moving average. The 100MA (Yellow) line is at $190, making it a temporary resistance for the coin. The price is currently seeing a recovery and is expected to breakout to higher levels. If the price jumps above $180 , a new high can be formed . ZEC / BTC pair is currently seeing a weak bullish momentum but can see a strong uptrend on going forward.

Zcash is ranked 57 in the CMC, with a market capitalization of $1,808,081,293. The volume of the coin has seen a decline of 22% in the 24 hours time frame. The volume to market capitalization ratio for Zcash is 0.355 hinting an uptrend. 

Technical Indicators Hints A Strong Recovery Pace For ZEC Price

Source: Trading view
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Zcash price highlights a weak bullish momentum on the weekly technical chart. ZEC price has seen a loss of 1.67% in the last seven days. The daily chart of ZEC highlights a probability of strong recovery pace for the price. It has formed an accumulation zone on the  daily chart. If the price sees a breakout above the accumulation zone then a rally till $250 can be seen. The current market scenario supports bullish momentum for ZEC price.

The volume indicator is at 91.4K with a small buying volume on daily chart If the price climbs above $180, then a surge in buying volume can be observed.

RSI(Bullish): It is currently trailing at the level of  39.2 , showcasing its presence in the neutral area. There is a positive slope formation in the RSI, which hints an uptrend in the price. The overall sentiment of the RSI is Bullish.

CONCLUSION

ZEC price has seen significant gain since the start of the year . The ZEC/BTC pair performs positively and can see the continuation of uptrend. An Investor should do their due diligence before investing.

TECHNICAL LEVELS

Major Resistance:$200

Major Support:$100

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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