- ZEC crypto price is currently in a downtrend and might break below the $100.It is trading with a gain of more than 2.6% in the intraday session
- Technical indicators of ZEC suggest a consolidated momentum in price. In contrast, ZEC/BTC pair has also seen a loss of more than 2.3%
ZEC crypto price suggests a consolidated momentum and might soon hit a new low in the future. Zcash coin price has seen a gain of more than 2% in the intraday session and is trading near the value of $130. The coin has a negative ROI of -96% which has not profited investors
The bullish momentum of ZEC might see a halt near the value of $200. On the downside it might see a bounceback from $80. Zcash coin price is currently trading below the 50 and above 100 Days Moving Average. The price of the coin has broken down below the support of 50 MA which can push it to lower levels.The 100MA line is near $129 which is acting as a temporary support for the coin price. ZEC/BTC pair might also see a consolidation for the upcoming weeks . One can invest in ZEC according to their needs and price action scenario.
Zcash market dominance along with the market cap has seen a decline in the past few days. ZEC price has to travel more than 70% of its current value to break its all time high. Volume to market capitalization ratio of the asset price suggests a consolidated momentum.
ZEC Coin Price Technical Indicators Hints Towards A Downtrend
The weekly technical chart of ZEC coin price hints a downtrend in price for the upcoming days. On the daily chart the coin price is seeing a weak consolidated momentum. ZEC crypto price might test the lower support in upcoming days. The coin price is forming a supply zone on the daily chart. If the price of the coin goes down below the supply zone then a strong downtrend can be seen. ZEC/BTC pair might also observe a major breakout in future.
CONCLUSION
ZEC coin price is currently observing a downtrend and can soon test the new high in future.. ZEC/BTC pair might also see a reversal to the bull trend
TECHNICAL LEVELS
Major Resistance:$200
Major Support:$100