- The trading volume of ZEC Coin in the last 24-hour at the time of writing this article is +40%
- The price of ZEC/BTC and ZEC/ETH at the time of writing this article is 0.002722 BTC and 0.03847 ETH respectively
- 50MA below the 100MA
Long term view:-
In the daily chart time interval, we can see the price is near the resistance. We can see the bulls are heading towards the resistance. So, let’s look at the technical indicator to see if the price will break the resistance level or not. Firstly, we can see the MACD, which is showing green histograms as the MACD line is above the signal line, and there is no sign that the lines will change their directions but the lines are very close to each other and cross each other soon.
In addition to that, the RSI is in the neutral zone near 61, and the RSI line is pointing towards the overbought zone of 70, which means the bulls are winning the fight against the bears. Lastly, we can see the Moving average as the 20MA is above the 100MA and 50MA, but the 50MA is below the 100MA and 20MA, which is a bearish sign.
Short term view:-
In the 4-hour time interval, we can see the price cannot break the resistance of the 50MA, which acts as a supply zone of the token. The MACD shows the green histograms as the MACD line is above the signal line, but the MACD line is crossing the signal line which is a buy signal for the bulls.
In addition to that, the RSI is in the neutral zone near 58, and the RSI line is pointing towards the overbought zone of 70, which means the bulls are winning the fight against the bears. In the Moving average, the 20MA is below the 50MA, and above the 100MA and the 50MA is above the 100MA which is a bearish sign.
Conclusion:-
Looking at both the long term and short term, we can see the price is heading towards the resistance with bulls with huge pressure and will break the resistance if the bulls are able to maintain this pressure then the price will break the resistance. If it fails to do so the bears will take the price down to the support again, making it a consolidation.
RESISTANCE:- $174,$185
SUPPORT:- $152,$143