- Zcash price over the monthly chart is heading towards the primary supply zone after a sharp rally from the lower levels.
- Currently, the ZEC Bulls are heading towards the critical support zone and place above its all vital moving averages of 20, 50, 100, and 200-day lines.
- The pair of ZEC/BTC is trading at 0.003093 BTC with an intraday gain of -5.42%, and the ratio of ZEC/ETH is CMP at 0.04273 ETH with a minor 24-hour change of -5.59%.
Zcash price is currently testing its previous breakout zone or supply zone, which is now acting as a support zone on the lower levels. Meanwhile, the coin is presently placed above its vital moving averages of 20, 50, 100, and 200-day lines. Volume over the monthly chart is lower and needs to grow strongly in upcoming trading sessions. Similarly, the short-term moving averages are overpowering the medium to long-term moving averages and creating a solid positive rally.
The sustainability above its all vital moving averages, with supportive volume activity, will boost more upside to $250 to $280. Support on the lower side is $188 and $175, whereas resistance on the higher side is $239 and $278.
Zcash price at the weekly time frame is trading on the bullish note
Zcash price at the weekly time frame is trading on the bullish note, while the price is making higher highs and lows. Meanwhile, the technical parameters indicate slight caution for long positions. Volume over the chart is lower and needs to improve sharply for sustainability on the higher side. ZEC price is trading at $198 with a significant intraday drop of -7.86%, and the volume to market cap ratio is 0.2643.
Relative Strength Index (CAUTION): Zcash price RSI is heading towards the lower zone at the weekly chart. In contrast, the coin is trading near the rejection zone of the chart pattern and projects slight caution with longs, RSI at 56.
Moving Average Convergence Divergence (MIXED): The daily chart projects a neutral trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) overlaps the seller’s line (red), with no sign of any significant move.
Support levels: $188 and $175
Resistance levels: $239 and $278.