- ZEC coin price action is in an uptrend of 4% during the intraday trading session.
- The 24-hour trading volume is at $635 million.
- ZEC/BTC pair is trading negative by 1.0% at 0.00293687 BTC.
The daily technical chart of the ZEC coin displays an upward trend. According to the pivot levels, the primary support level is $85. On the other side, if it rushes up, the resistance level to follow is $130. Although the chart forms a Bullish Harami candlestick pattern within the day, it is predicted that the price may remain upwards with medium reliability.
The Zig-Zag framed a top of $371 on 12 May. After that, investors can notice a massive correction of 77%, all the way low to $83. Now price levels are back around the range of $100 this week.
The volume of (1.331K) is below the MA of 20-days (9.074K). As a result, volume is too low in ZEC, causing its price to move around the resistance zone. Investors may also mark that the volume bars on the chart are declining, which intimates that notable volatility is expected in the upcoming trading session.
The RSI indicator gave a (bullish) signal with 64, projecting a buy signal in the coin. Investors may observe an inclining slope from 32 to 64. It may surge in future trading sessions.
Zcash (ZEC) Coin Prevails Bullish Momentum
The price of Zcash today is US$120.16, and the 24-hour trading volume is US$635,493,221. The price of ZEC has increased by 4.1% in the past 24 hours. There are 11 million ZEC coins in circulation, with a total of 21 million. In addition, the price is in a bullish momentum at the resistance zone. The RSI indicator shows a buy signal, and the traders have guided low volume. Technically, the price shows signs of positivity and remains in an uptrend. Therefore, as with overall market sentiment, the trend remains bullish.
Resistance Level: $130
Support Level: $85