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
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research
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