- ZEC coin price is in a downward trend, which drops 2.2% during intraday trading
- Zcash 24-hour trading volume is $633 Million
- ZEC/BTC pair is trading neutral by 0.1% at 0.00312903 BTC
The daily technical chart of ZEC token represents a downtrend level and is gradually moving towards the support regions. According to Pivot points (FIB), the critical support level for ZEC is $95.0. Though, if it makes a move above, the fundamental resistance level to be aware of is $130. Meanwhile, the chart shows a bearish engulfing candle, which indicates a bearish trend reversal with high reliability.
The exponential moving average (MA) composed of 50,100,200-EMA can be a reliable support for currency price changes. However, investors can observe the price moves below the lines, ensuring a downtrend, so until the price stays below the EMA-200, A death cross can be marked in the chart.
Volume of (6.65K) is beneath the MA of 20-days (41.695K). Selling pressure is low in ZEC, making its price remain in immediate support areas. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.
The Stochastic RSI (oversold) with a K-1.66 D-1.88 exhibits a sell sign in the coin. Investors may witness a declining slant and a positive crossover going to happen in the index. It may move towards the positive region for future trading sessions.
Zcash (ZEC) Token Oscillators Urging to Buy on Dips
The trading price of ZEC token is $99, with a daily loss of 2.6% and a weekly loss of 8.9%. In contrast, the price is hovering above the support level. The Stochastic RSI indicator showed a positive crossover, and the trading volume shrank. Technically, the price shows strength and remained above the support level. Therefore, the current trend remains bearish. Based on the general market sentiment, the price trend may flip over to bullish.