- Zcash coins seem bullish as they have earned about 10% of their cost in the last 24 hours.
- ZEC Coin has received multiple rejections close to the 20-day moving average.
- As momentum gained, trading volumes have increased by 74% in the last 24 hours.
After a dramatic drop, many altcoins have recovered in the last three weeks and have been regenerated by more than 20-30%. Despite the stability of today’s cryptocurrencies, Zcash coins continue to move lower in lower formations during the daily price scale.
This month, instead of selling, Zcash tokens are green at 7.7%. However, the Bulls are not trying to raise the price of altcoin. As a result, since July 13, price behavior has shown a strong bullish candle. This bullish rally could be offshore, as altcoin formed a strong bullish candle a few days ago.
During the uptrend, Zcash coins surpassed the 20-day EMA. This has long been a solid selling point for the Bulls.Meanwhile, today ZEC At the time of writing this article, the price was above 20 DMA when the coin was trading at $ 58.6.
The $ 60 resistance level is close to the current price. Therefore, if the bull maintains a price above 20 DMA, you can also get this zone tightly. During the rally, Altcoin’s market capitalization exceeded $ 850 million, up more than 10% in the last 24 hours.
The daily RSI is still below the midpoint (50 points) against the higher momentum. Zcash coin. The RSI peak has recently fallen into the oversold zone, but remains showing signs of weak bullishness until it crosses the 50 mark.
StochRSI shows signs of recovery
On the daily chart, the altcoin price is still trading below the red zone of the supertrend indicator. In addition, StochRSI is moving towards the overbought zone again.
Conclusion
In the bullish trend, the bulls need to push Zcash Price above the previous high of $ 62.5. Also, according to the weekly price chart, the Stoch RSI remained in the very oversold zone and could rise further.
Support Levels-$ 52 and $ 40
Resistance level-80 $ and $ 100
Disclaimer
The views and opinions expressed by the author or the person described in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.
