ZCASH Price Prediction Today: Daily (ZEC) Value Forecast – July 19
- The short and medium-term outlook is in a downtrend.
- Responsible selling may be considered at key areas.
ZEC/USD Medium-term Trend: Bearish
Supply zones: $100.00, $110.00, $120.00
Demand zones: $50.0000, $40.00, $30.00
ZECUSD is in a bearish trend in the medium-term outlook. The bullish momentum was sustained as predicted to the 61.8 fib area with the coin making a high at $82.02. The presence of wicks in candles at this area connotes bullish exhaustion and subsequently bears return.
Price fell to $70.53 in the demand area closing at $79.15 as yesterday session ended.
Today’s opening session opened on a bearish note at $79.06 with the break of the resistance at the 10-EMA and the cryptocurrency down to $75.23.
With the signal of the stochastic oscillator pointing down at 72%, suggesting downward momentum in price in the medium-term.
The 23.6 fib area is the bears' initial target at $71.14 before the breakdown at the previous low at $64.01 the demand area.
ZEC/USD Short-term Trend: Bearish
The cryptocurrency is in a downtrend in the short-term outlook. The target at $82.00 in the supply area was attained due to the strong bullish momentum which was lost with inverted pinbar formation suggesting exhaustion.
The bears took control of today’s session with price at $78.85 with the formation of another pinbar as the cryptocurrency fell to $75.23.
Price is below the two EMAs and the signal of the stochastic oscillator is pointing down at 15% in the oversold region. These suggest a downward momentum in price of the cryptocurrency.
$72.00 in the demand area is on the card as bears increased momentum with more candle open and closed below the two EMAs.
Live Zcash (ZEC) Price:
1 ZEC/USD =$120.6109 change ~ -4.14%
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