- The ZEC coin price breaks above 55-EMA with a 16% return.
- The 24-hour trading volume is at $398 million.
- ZEC/BTC pair is trading positive by 4.4% at 0.00228706 BTC.
On the daily chart of ZEC coin, Moving Average Exponential (EMA), consisting of 8,13,21,55-EMA, Acts as reliable support in the coin price movement. Investors may observe the price is floating above the yellow line, so until the price resides above all the EMA’s, it will assure an uptrend in ZEC.
Trading volume (518.320 K) is below the 20-day moving average (1.105 M). The volume is moderate, so the cost is gradually moving upside. Investors may also notice that the volume bar on the chart increases. This indicates that unusual volatility is common on the following trading days.
ZEC Coin Price Trend Heading Towards The Supply Zone
ZEC coin daily technical chart and price trend show an uptrend. Based on the price action, the supply zone is located at 170-175 USDT. On the other hand, the demand zone to look for is 95-105 USDT. Therefore, the chart shows a Doji candlestick pattern during the day.
The RSI indicator gave a signal (Overbought) with 80, projecting a sell signal in the currency for the short term. Investors can observe an inclined slope from 40 to 80 on the index. It can fall in future trading sessions.
The MACD indicator gives (bullish) cross over the signal line on October 02, demonstrating a buy signal in the coin. Additionally, Investors can see the beginning of green bars on the Histogram index.
Conclusion
Zcash value today is $143.19 with a 24-hour exchanging volume of $398,492,402. ZEC cost is up 4.5% as of now. It has a coursing supply of 12 Million ZEC coins and an absolute inventory of 21 Million.
The RSI shows an overbought and MACD point to a buy signal, and the traders have prompted moderate volume. In fact, the cost bounced from the demand zone and headed towards the supply zone gradually. Likewise, the general market outlook is that this pattern will continue to rise over the next few trading days.
Resistance Level: $170 & $175
Support Level: $95 & $105