- The subsidence price exceeded the daily price chart by the ZEC Bulls who had given up.
- Cryptocurrency assets are above the 20-day moving average and approaching the 100-day moving average.
- The ZEC / BTC pair is 0.002713 with a gain of 2.12%.
The ZEC Bulls reached out and raised the downside price above the daily chart. Prices were declining under Bitcoin’s dominance, which the entire crypto market is suffering from. Currently the bull is helping the coins recover, but this time the process is very slow. Coins need to attract some buyers to improve the efficiency and strength of the Bulls.
Although subsidence prices have begun to recover, trading volumes have fallen by more than 34% over the daytime trading sessions, which should be the Bulls’ biggest concern today. Bulls have pushed prices up from a low of $ 60.20. Investors are facing huge losses as prices return to record lows, but the decline is interesting and could facilitate market entry.
One current price ZEC The coin is trading at $ 62.91 and its market capitalization over the last 24 hours has increased by 2.73%. The trading volume of coins is 64.1 million, with a loss of 34.75% in a 24-hour trading session and a market capitalization of 935 million. The volume market capitalization ratio is 0.06889.
ZEC short-term analysis
The ZEC The price is a strict indication of the start of the recovery phase on the short-term (4 hour) price chart. This means that the Bulls have returned to support the coin and prevent it from collapsing.
The MACD indicator shows that the seller’s line is above the buyer’s line, but as the buyer is actively participating in the market, the red histogram is starting to shrink and soon there is a positive crossover. May be seen. To support this, the Relative Strength Index has also begun to move towards the rising territory, showing an increase in buying, with an RSI value currently above 50.
Conclusion
The ZEC The bulls gave their hands and pulled the sinking price above the daily price chart. Prices are currently on the rise over the entire period, but coins still need to attract some buyers to improve the efficiency and strength of the Bulls. Trading volumes have declined by more than 34% over the day trading sessions. Technical indicators on the short-term graph show that more bullish trends are expected.
Technical level
Resistance levels: $ 69 and $ 92
Support levels: $ 57.12 and $ 50.23
Disclaimer
The views and opinions expressed by the author or the person described in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.
