- 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
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.
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.
Major support: $ 180
Major resistance: $ 280