- ZEC/USD has been on an increase since April 1st this month.
- The ZEC/USD bullish market sentiment could be erased if a breakdown occur against the $65 price mark.
ZEC/USD Long-term Trend – Bullish
- Distribution territories: $85, $90, $95
- Accumulation territories: $50, $45, $40
ZEC/USD trade stance has been visibly on an increase moving mode since the start of this month, April 1 while it formed a bullish candlestick a bit over the last range upper range mark.
On April 3, the crypto, during its movements to the north direction managed to average $80 point. Thereafter, it began to experience a retracement which has led to being trading around $80 and $65 price territories currently. The 14-day SMA trending line is still found pointing towards the north, and it’s located over the 50-day SMA with a notable space separated them. The Stochastic Oscillators have been seen within ranges 80 and 60 in an attempt to close hairs.
There is an indication that the pair may soon begin to witness a line of range price movements around the recent high price point and a low price mark around the $65 for a while. Meanwhile, another bullish candlestick may occur around the 14-day SMA to once again to give the crypto-market a better heads-up to signify the continuation of the bullish trend. Traders need to be wary of sudden breaking down of the $65 price mark.