ZCASH Price Prediction: Long-term (ZEC) Value Forecast – July 21
The journey down south continues in the long-term.
$56.77 in the demand area is the bears' next target.
ZEC/USD Long-term Trend -Bearish
Supply zone: $100.00, $120.00, $140. 00
Demand zone: $50.00, $40.00, $30.00
The cryptocurrency long-term outlook remains in a downtrend. $70.00 in the demand area predicted as the bears' initial target in last week article was hit on 15th July. The close of the day as a bearish spinning preclude a continuation the next day as the bears drop the ZECUSD further down to $63.41.
This was the low of the week as the bulls stage a comeback pushing price back up to $86.54 in the supply area. This was a market correction of the bears' impulsive move.
The 10-EMAs is seen acting as strong resistance against upward price movement a with the candle closing with wicks around the area with the week closing as inverted hammer an indication of a trend reversal.
The new week is starting on a bearish note at $77.75 with a drop at $73,30 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 23%.
$56.77 in the demand area is the bears' next target as it journey down south resumes.
Live Zcash (ZEC) Price:
1 ZEC/USD =$127.7520 change ~ 1.35%
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