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Zcash

Zcash Price Analysis ZEC / USD: Critical LevelZcash is starting to appear increasingly interesting from a technical perspective as the popular cryptocurrency trades at its weakest level since March 2019. Several technical indicators are suggesting that the ZEC / USD pair could soon stage a bullish reversal if buyers can hold price above the $44.00 level. The ZEC / USD pair has suffered eight-straight weeks of losses and relinquished over fifty percent of its value since July this year. A bearish head and shoulders pattern has been rapidly unfolding, after sellers broke through the $75.00 level. The overall size of the bearish head and shoulders pattern still suggests that Zcash could fall towards the $25.00 level. However, the decline has created sizeable amount of positive MACD divergence, which points to an eventual recover back towards the $80.00 level. Furthermore, a large inverted head and shoulders pattern still remains dangerous and valid on the daily time frame while price trades above the $15.00 level. Overall size of the huge inverted head and shoulders pattern would take the ZEC / USD pair back towards the $200.00 level over the long-term. With the cryptocurrency market showing signs of stabilizing in September, it may be time to start to look to Zcash to mount a sustainable recovery, although traders still need to be mindful that the cryptocurrency could still fall back toward the $25.00 support level, before staging a recovery over the medium to long-term. According to the latest sentiment data from TheTIE.io, the short-term sentiment towards Zcash is extremely weak, at 19.00 %, while the overall long-term sentiment towards the cryptocurrency is neutral, at 58.00%. ZEC / USD Daily Chart by TradingView Upside Potential The four-hour time frame is showing that the ZEC / USD pair is trapped within a falling price channel. Bulls need to move price above the $50.00 level to break free from the price channel, with the $55.00 level the foremost resistance prior to the $67.00 level. Bullish MACD price divergence extends back towards the $80.00 level, we should monitor this divergence potentially being eroded, if price breaks above the $50.00 level. A large reversal pattern could also form if price reaches the $80.00 level. Downside Potential The downside potential for the ZEC / USD pair could open-up dramatically if the $45.00 level is broken over the coming sessions. The bearish head and shoulders pattern on the four-hour time frame still suggests that the ZEC / USD pair could drop towards the $25.00 level. From a long-term perspective, the $15.00 level is key, as it is the head of a huge inverted head and shoulders, and an area of critical technical importance. Summary The short-term technicals for Zcash will become apparent once a breakout from the $45.00 to $50.00 price range occurs. Overall, a sustainable recovery towards the $80.00 level can take place if we start to see the ZEC / USD pair breaking above the $50.00 resistance level.
BITFINEX:ZECUSDLong
by CryptoBriefingTA
1
There is a possibility for the beginning of an uptrend in ZECUSDTechnical analysis: . Zcash/US Dollar is in a downtrend and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 14. . While the price downtrend in the daily chart is not broken, bearish wave in price would continue. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (43.30 to 49.00). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (49.00) Ending of entry zone (43.30) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 56.50 TP2= @ 64.75 TP3= @ 73.80 TP4= @ 91.00 TP5= @ 106.70 TP6= @ 127.65 TP7= @ 157.05 TP8= @ 184.90 TP9= @ 220.60 TP10= @ 328.65 TP11= @ 375.70 TP12= @ 503.10 TP13= Free
BITFINEX:ZECUSDLong
by ForecastCity
3
There is a possibility for the beginning of an uptrend in ZECUSDTechnical analysis: . Zcash/US Dollar is in a downtrend and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 14. . While the price downtrend in the daily chart is not broken, bearish wave in price would continue. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (43.30 to 49.00). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (49.00) Ending of entry zone (43.30) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 56.50 TP2= @ 64.75 TP3= @ 73.80 TP4= @ 91.00 TP5= @ 106.70 TP6= @ 127.65 TP7= @ 157.05 TP8= @ 184.90 TP9= @ 220.60 TP10= @ 328.65 TP11= @ 375.70 TP12= @ 503.10 TP13= Free
BITFINEX:ZECUSDLong
by ForecastCity
8