Don't miss the great buy opportunity in ZECUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (28.13). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ZECUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 33.36
TP2= @ 39.33
TP3= @ 43.65
SL= Break below S2
ZECUSD
Don't miss the great buy opportunity in ZECUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (28.13). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ZECUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 33.36
TP2= @ 39.33
TP3= @ 43.65
SL= Break below S2
Zcash Price Analysis: Bullish OpportunityZcash has slipped to its lowest trading level since March 2019, following the recent decline in the broader cryptocurrency market which was sparked by bearish news coming from China’s central bank.
The ZEC/USD pair has fallen by over 30 percent since the start of November and 75 percent lower from its 2019 trading high.
Technical analysis suggests that the coin still has a high probability of staging a bullish reversal while trading above the important $17.00 level.
The four-hour time frame shows that an inverted head and shoulders pattern could start to form if buyers can stage a rally back toward the $40.00 level.
A price floor may have been established around $25 earlier this week, which is further complemented by a bullish reversal candle on the daily time frame.
The daily time frame also shows that large amount of bullish MACD price divergence appeared during the summer decline. The price divergence extends towards the $80.00 level.
Technical indicators are showing that a bullish reversal may be on the horizon, with the Relative Strength Index on the daily time frame reaching its most oversold level on record.
According to the latest sentiment data from TheTIE.io, the short-term sentiment towards Zcash is neutral at 42.00 %, while the overall long-term sentiment towards the cryptocurrency is neutral at 46.00%.
ZEC/USD by TradingView
Upside Potential
The four-hour time frame shows that key technical resistance is located at the $35.00 and $40.00 levels. Buyers ideally need to rally price above them to form a large reversal pattern.
Key technical resistance over the medium-term is located at the $55.00 and $80.00 levels.
Downside Potential
T he four-hour time frame is showing that the ZEC/USD pair has strong medium-term technical support around the $25.00 and $20.00 levels.
Critical long-term technical support for the ZEC/USD pair is located at the $17.00 level.
Summary
Zcash has suffered a heavy decline this week, further adding to the recent losses the cryptocurrency incurred over the summer.
The ZEC/USD pair now needs to recover towards the $40.00 level in order to form a large reversal pattern.
ZCash Major ResistanceIt seems that ZCash will be accumilating for some time before revealing the next move.
For now, I'd expect it to reach the major resistance at $35.3. Then consolidation will either start or we'll see a break above, stimilating buyers to enter long positions.
On the other hand rejection of this level would lead to either another accumulation phase or could even push price lower, towards $30 area.
ZCASH x200One of the core features that missing in BTC is privacy. Zcash might be able to fix this issue and reach mass adoption, and if succeed, price will skyrocket.
Zcash could be in demand on all decentralized exchanges to hide "buying and selling power". Actually there are too many use-cases for it and I think that privacy coins will be in great demand in coming months, years.
Recently, Zcash got delisted from few exchanges due to the ban on privacy coins. Although we should not read the actual news, but think as to why such news are given to us )))
It seems like big boys are trying retail traders to sell ZCASH at a bargain price, and once that is achieved... well you know what will happen.
I've looked at all top altcoins and hardly find any sell signals if any. Most are giving a strong buy, and through out this week it has only increased.
This leads me to conclusion that altseason has just begun!
Obviously I might be wrong and we yet to see how far, if at all, price will rise.
However, in the long term, my choice is "privacy" and I go with Zcash. (Not monero or dash for certain reasons, although they could be top gainers in coming years as well)
XMR/USD BUY SIGNALMonero bouncing off the support while ZCASH already showed a buy signals. Seems like these two are going up big time