ZCASH Price Prediction Today: Daily (ZEC) Value Forecast – July 11
- The short and medium-term outlook is in the downtrend.
- Responsible selling at pullback areas may be considered.
ZEC/USD Medium-term Trend: Bearish
Supply zones: $90.00, $95.00, $100.00
Demand zones: $50.0000, $40.00, $30.00
ZECUSD is in a bearish trend in the medium-term outlook. The bears were in charge right from the opening of today’s market at $96.96 and price dropped to $92.48. Increased pressure from the bears led to the break of the lower demand area of the range at $92.00 was with a large bearish candle.
ZECUSD plunges further down to $86.74 in the demand area.
The retest of the broken demand area may occur in the course of the journey down south. This should be seen as a market correction and a confirmation of the downward journey in the medium-term.
Price is below the two EMAs and the signal of the stochastic oscillator is pointing down at 14% in the oversold region an indication further downward momentum in price. $80.00 in the demand area may be retested as the bears' pressure becomes much stronger.
ZEC/USD Short-term Trend: Bearish
The cryptocurrency is in a downtrend in the short-term outlook. After dropping the cryptocurrency at $92.49 in the demand area during yesterday session, the market went into a brief correction.
The bears resume the journey down south breaking out of the correction after today’s opening at $96.61. The coin is down at $87.17 in the demand area before a brief momentum loss signaled by the wick in the candle.
The bulls are gradually returning which may result in the formation of a flag which is a correction for the bear next downward movement.
The signal of the stochastic oscillator is pointing down at 18% and price is under the two EMAs. These imply a downward price movement in the short-term.
Live Zcash (ZEC) Price:
1 ZEC/USD =$298.8946 change ~ -5.90%
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