- ZEC token price breaks above the resistance zone of $190.
- The 24-hour volume of the coin is $741M, with a rise of 80%.
- The ZEC/BTC pair trades at 0.002884 BTC with an intraday rise of 5.65%.
ZEC Token price shows phenomenal growth in the daily chart. The coin price has grown more than 30% in the past few days. As a result, the price action breaks above the $190 resistance zone.
The token price shows lower price rejection; however, the pivot points indicate support levels at the $185 and $160 mark if the price retraces back. Moreover, on the flip side, the resistance levels are at $215 and $250.
The price is significantly higher than all the crucial EMAs – 20, 50, 100, and 200. Moreover, the EMAs maintain a bullish alignment in the daily chart. Hence, EMAs can provide support if the price crashes.
Will ZEC Token Price Reach $250 Mark?
The ZEC token price is able to maintain above the $190 horizontal mark in the 4-hour charts. However, the great breakout in the daily charts indicates a bullish run with solid buying pressure.
The RSI indicator signifies underlying bullishness when the slope increases to the overbought boundary. The slope and price action are not divergent. The indicator, therefore, gives a bullish signal.
MACD indicators indicate that the MACD line and the signal line are rising in the daily frame. These lines are also bullish aligned. Additionally, the histogram does not show any divergence. Thus, it creates a buy signal.
Conclusion – ZEC Token Price Action has been extremely bullish, as shown by the solid bullish candlesticks and an increase in intraday volume. Furthermore, the indicators project an upward trend if the price remains above $2505.
Support – $3.4, $2.65
Resistance – $4.15 , $5