ZCASH Price Prediction: Long-term (ZEC) Value Forecast – July 14
- The long-term outlook is in a downtrend.
- $70.00 in the demand area is the bears' first target in the long-term.
ZEC/USD Long-term Trend: Bearish
Supply zone: $120.00, $140.00, $160. 00
Demand zone: $50.00, $40.00, $30.00
The cryptocurrency is in a bearish trend in the long-term outlook. The bulls had a brief control of the market last week until 8th July when the daily candle closed as a bearish spinning top.
ZECUSD rose to $115.45 before the bears took control of the market and drop the coin to $88.34 breaking the lower demand area of the range on 10th July. Increased momentum led to a further drop in price to $83.73 before the retest and subsequent drop to the low of the week at $83.24 on 13th July.
The new week is starting on a bearish note at $89.72 and price already down to $80.63 below the two EMAs. It suggests a strong bears pressure on the cryptocurrency in the days ahead coupled with the signal of the stochastic oscillator pointing down at 16 in the oversold region.
$70.00 in the demand area is the bears' target as it journey down south.
Live Zcash (ZEC) Price:
1 ZEC/USD =$311.8529 change ~ 5.15%
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