• Zcash Price is currently on a bullish move with a 3.9% gain during an intraday session. In contrast, the ZEC / BTC pair is also experiencing a bullish movement
  • Technical indicators for the ZEC price suggest a bullish movement. In the meantime, it has seen a gain of over 200% since the start of the year.

Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses zk-SNARK zero proof-of-knowledge technology which allows network nodes to verify transactions without revealing any sensitive transaction information. The ZEC price has seen a significant gain and may continue similarly in the future.

Zcash is currently ranked 53 with a market cap of $ 2,685,575,085. The volume of coins (597,637,403) fell by 6.63%. LINK’s volume to market cap ratio is 0.2225, and if it exceeds 0.8, a huge buying rush can be seen.

Technical indicators suggest an upward trend for ZEC price

Source: trading view

Zcash weekly technical chart highlights bullish movement. The price of the ZEC evolves in a bullish dynamic during the day. The upside resistance for the coin can be seen at $ 280. The ZEC can bounce back down $ 180. It is trading above 50 and 100 Moving Average. The 50MA (RED) line is at $ 184.07 making it temporary support for the current price. Over the 4 hour period, the room formed an ascending parallel channel. If the price exceeds $ 250, it can reach $ 350. We must wait for a significant movement to be observed in the price.

RSI (Bullish): It is down at 62.29, which shows its presence in the neutral zone. There is a positive slope formation in the RSI, highlighting a positive sentiment for the price. The RSI portrays bullish momentum for the price.

Conclusion

The price of the ZEC has gained more than 200% since the start of the year. The anonymity of the coin has always attracted investors. The ZEC will continue to fill its investor pocket as in the past.

Technical levels

Major support: $ 180

Major resistance: $ 280

Receive this news in person on Telegram. Join our telegram for news and similar information related to CRYPTO-CURRENCY, BITCOIN, BLOCKCHAIN ​​NEWS and price prediction



Source link

About The Author

Related Posts