- Zcash Token over the monthly chart is heading towards the short term support zone after a pullback from higher levels.
- Currently, the ZEC is heading towards the critical support zone and near its short term moving averages of 20 and 50-day lines, while comfortability is placed above 100 and 200-DMA lines.
- The pair of ZEC/BTC is trading at 0.003992 BTC with an intraday drop of -6.72%, and the ratio of ZEC/ETH is CMP at 0.05011 ETH with a significant 24-hour change of -13.34%.
Zcash Token is currently testing its previous breakout zone or supply zone, 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 increasing and needs to grow strongly in upcoming trading sessions for the next lap of a bullish move. 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 $320 to $360. Support on the lower side is $210 and $180, whereas resistance on the higher side is $300 and $325.
Zcash Token is trading under the bullish chart, CMP under the flag and pole pattern
Zcash Token at the weekly time frame is trading under the bullish chart structure, while the CMP is under the flag and pole pattern. Meanwhile, the technical parameters indicate are projecting upcoming bullish move. Volume over the chart is lower and needs to improve sharply for a positive breakout from the pattern. ZEC price is trading at $229 with a significant intraday drop of -5.86%, and the volume to market cap ratio is 0.2154.
Relative Strength Index (NEUTRAL): Zcash token RSI is heading towards the neutral zone at the weekly chart. In contrast, the coin is trading in the neutral zone of the chart pattern, after a sharp decline from higher levels, RSI at 42.
Moving Average Convergence Divergence (NEUTRAL): The daily chart projects a neutral trend at the 4-hour time frame. The seller’s line (red) overpowering the buyer’s signal line (green) while trying a positive crossover.
Support levels: $210 and $180
Resistance levels: $300 and $325.