- ZEC price can see an upwards bull momentum and can break the resistance level of $200
- Zcash price volatility has seen not much change in the last three months and can become lower in upcoming days.Meanwhile, IOTP map shows less resistance from buyers
- ZEC/BTC pair is trading at the value of 0.003558 BTC with an intraday gain of 6.10%
Zcash (ZEC) IOMAP & Volatility Analysis
ZEC volatility has been up from the last three months. It highlights the possibility of breakout from the consolidation phase.There is a small negative slope in the volatility which tells that the price may see an uptrend graph. Volatility indicator is not as reliable as the CVIX indicator, but it gives a general idea about the price action.
The IOMAP model of Into the Block suggests that there is robust seller concentration at the value of $210.68 and $266.The coin is facing a little resistance from the seller below that level,so an uptrend upto 250$ dollar can be expected.
On the downtrend the buyers are sitting in between $70 and $112 ,so the sellers can face resistance near this value.
If the bulls want to make $250 then they have to go through the barrier between $180 and $200.The seller concentration at this level is very less, so it would not be much of a deal for the buyers.
Zcash (ZEC) Technical Analysis
The weekly chart of ZEC highlights “Bulls on roar “in today’s session. Zcash is currently trailing at the value of $182.71 with an intraday gain of 12.43% and 16.72% gain from the last week.The major resistance of the Coin is $200, and major support is placed at $160.0.The volume has seen a loss of 35.73% and the market capitalization went up by 12.68%.ZEC/BTC pair is currently showing strength for recovery and can see the higher levels.It is trading above 50 and 200 Exponential Moving Average.The 50 EMA blue line is at the value of $110.74,making it a temporary support.
RSI(Bullish): It is trading at the level of 77.57, highlighting its presence in the overbought zone. A positive slope is formed in the RSI, showcasing a bullish momentum with high strength.
The trend analysis and IOMAP of ZEC suggest the positive breakout from the consolidation phase. The ZEC/BTC pair is showing strength for recovery and can see the higher level.