- ZEC coin shows the 20-and-50-day EMA is on the verge of giving a bullish crossover
- The ZEC/BTC pair was trading at 0.003345 BTC with a gain of 1.07%
- the 24 trading volume in ZEC coin is $457.7 Million
The ZEC coin chart provided an excellent long opportunity for its trader when the price gave breakout from an inverted head and shoulder pattern. The completion of this bullish pattern provided enough boost to the price to reclaim the crucial 200 EMA line. However, the coin price is now again at the doorstep of a strong resistance level of $145.
Concerning the EMA’s: The SHIB token price is trading above the crucial EMA’s 20, 50, and 100, indicating an uptrend in this token. Moreover, the chart also shows the 20 and 50 EMA could provide a bullish crossover, attracting even more buyers to the coin.
The RSI (BULLISH) value is at 64, indicating a bullish emotion in the coin. Moreover, the chart also showed significant growth in RSI value, projecting the increasing strength of coin buyers.
ZEC Coin Chart Forming A Rounding Bottom Pattern
The ZEC coin displays another long opportunity for ZEC traders by forming a rounding bottom pattern in the 4hr time frame. This pattern has a crucial resistance(neckline) at the $175 mark; however, before reaching that mark, the coin price first needs to break out and sustain above the resistance of $145. The current price of the ZEC coin is 139, with an intraday gain of 1.32%.
The moving average convergence/divergence(MACD) indicator shows both the MACD and the signal line are moving higher than the neutral zone(0.00), indicating a strong bullish momentum in the coin.
Conclusion: From a technical perspective, the ZEC coin shows impressive recovery in a chart after the price bounced from the $100 support. Moreover, as mentioned above, the coin suggests an excellent bullish pattern in its chart, and the crypto trader can add ZEC coin to their watchlist and wait for the price to break out from $145 and the $175(neckline).
Support: $140
Resistance: $133