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Zcash

Zcash Price Analysis ZEC / USD: Renewed InterestFundamental Analysis Zcash is likely growing in anticipation of the Zcon Annual Privacy Conference which will take place in Croatia on June 22-24, 2019. The event is organized by the Zcash Foundation and will encourage collaboration of privacy projects inside the Zcash ecosystem. Zcash / USD Short-term price analysis Zcash has a bullish short-term trading bias, with the ZEC / USD pair still holding price above its 200-period moving average on the four-hour time frame. The four-hour time frame is showing that a head and shoulders pattern has now formed, with ZEC / USD bulls attempting to invalidate the bearish pattern. Technical indicators across the four-hour time have turned bullish and are now generating a strong bullish signal. Pattern Watch Traders should note that the ZEC / USD pair is once again starting to create higher highs and lower lows on the four-hour time frame. Relative Strength Index The RSI indicator on the four-hour time frame is bullish and is currently issuing a strong buy signal. MACD Indicator The MACD indicator on the four-hour time frame is bullish, with both the MACD signal line and histogram issuing strong buy signals. Zcash / USD Medium-term price analysis ZCash has a bullish medium-term trading outlook, with the ZEC / USD pair edging closer to major breakout resistance on the daily time frame. The daily time frame is showing that the ZEC / USD pair is consolidating close to the neckline of a large inverted head and shoulders pattern with significant upside potential. Technical indicators on the daily time frame are now attempting to stage a bullish recovery following a correction from overbought conditions. ZEC / USD Daily Chart by TradingView Pattern Watch Traders should note that if the bullish inverted head and shoulders pattern is triggered on the daily time frame the ZEC / USD pair could rally towards levels not seen since August 2018. Relative Strength Index The RSI indicator has once again turned bullish on the daily time frame after briefly dipping towards neutral territory. MACD Indicator The MACD indicator is attempting to turn bullish on the daily frame as upside pressure returns. Conclusion Zcash is attempting to build upside momentum following a strong reversal from key technical support on the four-hour time frame. If bulls can invalidate the bearish pattern on the four-hour time frame the cryptocurrency could see a wave of fresh buying interest, which could clear the path for a much-needed technical breakout on the daily time frame.
BITFINEX:ZECUSD
by CryptoBriefingTA
Zcash Price Analysis ZEC / USD: Sharp Bullish BreakoutZcash / USD Short-term price analysis Zcash has a bullish short-term trading bias, with the ZEC / USD pair advancing to its highest trading level since November 2018. The four-hour time frame is showing that a bullish breakout has occurred from a neutral triangle pattern, with the move higher yet to reach its full upside target. Technical indicators across the four-hour time frame have turned bullish and are generating a strong bullish signal. Pattern Watch Traders should note that a major range break has also taken place on the four-hour time horizon. Relative Strength Index The RSI indicator on the four-hour time frame is bullish, although it has moved into extreme overbought territory. MACD Indicator The MACD indicator on the four-hour time frame is bullish, with the MACD signal line and histogram issuing strong buy signals. Zcash / USD Medium-term price analysis Zcash has a strong bullish bias over the medium-term, with the ZEC / USD pair performing a major bullish breakout on the daily time frame. The daily time frame is also showing that bulls have triggered a large inverted head and shoulders pattern, following the continued bullish breakout above the ZEC / USD pair’s 200-day moving average. Technical indicators on the daily time frame remain bullish and still have scope to trade higher. ZEC / USD Daily Chart by TradingView Pattern Watch Traders should note that the November 14th, 2018 swing-high is the initial upside target of the bullish inverted head and shoulders pattern on the daily time frame. Relative Strength Index The RSI indicator is bullish on the daily time frame, although it is now approaching overbought conditions. MACD Indicator The MACD indicator on the daily time frame is bullish and continues to issue a buy signal. Conclusion Zcash has staged an impressive technical breakout over both time horizons, with the cryptocurrency advancing to a new 2019 trading high. While the breakout on the four-hour time frame is nearing completion, the bullish breakout on the daily time frame still appears to be in its early stages.
BITFINEX:ZECUSDLong
by CryptoBriefingTA