ZCASH Price Prediction Today: Daily (ZEC) Value Forecast – July 25
- The short and medium-term outlook is in a bearish trend.
- $68.00 in the demand area is on the card.
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 throughout yesterday session after the bearish exhaustion at $68.48 in the demand area. The coin rose to $71.80 before the end of yesterday session.
The momentum was lost shortly after today opening at $73.92 in the supply area. This was around the trendline precisely the third touch by price. Expected a bounce to the downside occurred. $69.81was the low already attained.
Price is below the two EMAs and the signal of the stochastic oscillator pointing down at 42%, suggesting downward momentum in price in the medium-term. $73.92 in the demand area is the initial bears' target in the medium-term.
ZEC/USD Short-term Trend: Bearish
The cryptocurrency is in a downtrend in the short-term outlook. The key supply area at $73.00 acted as resistance from 23rd July. $67.53 was the low the cryptocurrency was at the area during yesterday session.
Today 1-hour opening $70.65 sustained the bullish momentum as price rose to the supply area at $73.25 and lost momentum with the candle closing with a wick.
The break down at the two EMAs signal the downward continuation after the bounce from the key supply area as the coin fell to $69.36 in the demand area.
Price is below the two EMAs and the signal of the stochastic oscillator is pointing down at 18% in the oversold region. These suggest downward momentum in price of the cryptocurrency
$68.00 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 =$315.9448 change ~ 1.60%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research