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- 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 $200. Zcash 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
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
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.
