ZCASH Price Prediction: Long-term (ZEC) Value Forecast – June 9
- The long-term outlook is in a bearish trend.
- Traders should wait for a break of the trendline to join the downward price movement.
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 a bearish trend in the long-term outlook. The bear sustained the pressure since the beginning of the month at $90.03. Despite a bullish opening last week at $86.21, ZECUSD rose briefly to $89.53 in the supply area before the momentum loss and subsequently the bears took control of the market.
Price fell initially $81.16 and later to $75.46 in the demand area as the low of the week.
The bears temporarily lost momentum on 4th June for the market correction as the bulls pushed price up to $84.48 closing the week as a tweezer top an indication of bullish exhaustion and possible bears return for the continuation.
A break at the lower trendline will confirm the bears' takeover and a possible target at $74.00 in the demand area.
Live Zcash (ZEC) Price:
1 ZEC/USD =$127.3177 change ~ 4.59%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.