- The Zcash crypto is decreasing downwards, around -24.5%, during the intraday trading session.
- The 24-hour trading volume is at $716 million.
- ZEC/BTC pair is also trading negative by -12.6% at 0.00274926 BTC.
Daily technical chart and Zcash crypto trend are showing a downward trend. Based on the pivot level, the initial support level is 112 USD. From another perspective, if it accelerates, the resistance level to watch is 142 USD. Although the chart created a bearish inside candlestick pattern during the day, the price is expected to be a downside with medium reliability.
Ichimoku Cloud is composed of lead-1 and lead-2, and the displacement value is 1. It operates as a pivot level and leading indicator of asset price changes. Investors can see that the price breaks through the Green Moku Cloud and now slips under the Green Moku Cloud, so the cost is below the Green Moku Cloud, ensuring the downward trend of ZEC.
Trading volume (1.41 M) is close to the 20-day moving average (1.82 M). In short, the high volume of transactions caused the price to get rejected at the resistance zone. Investors may also notice that the volume bar on the chart is declining, which indicates that surprising volatility is expected in the next trading days.
The Schaff Trend Cycle indicator (bullish) with a 43 represents a buy signal in the coin, projecting an uptrend. Additionally, Investors can see a green buy signal and a downward slope in the index.
Zcash Crypto Needs To Hold $112 Support
The price of Zcash crypto today is USD 124.16, and the 24-hour trading volume is USD 716,782,999. The cost of ZEC has decreased by 24.5% in the past 24 hours. The circulation of ZEC coins is 12 million, with a total of 21 million. The STC indicator shows a buy sign, and the traders have led to high volume. Technically, the price resides around the support zones and continues in a downtrend. Accordingly, as with the overall market viewpoint, the trend remains bearish for upcoming trading sessions.
Resistance Level: $142
Support Level: $112