ZCASH Price Prediction Today: Daily (ZEC) Value Forecast – July 26
- The short-term is in a bullish trend while the medium-term outlook is in a downtrend.
- Responsible buying in the short-term to the key supply area may be considered.
ZEC/USD Medium-term Trend: Bearish
Supply zones: $100.00, $110.00, $120.00
Demand zones: $50.0000, $40.00, $30.00
ZECUSD remains in a bearish trend in the medium-term outlook. $69.18 in the demand area was the low the bears could push the cryptocurrency before it weakened during yesterday session. The day ended on a bullish doji an indication of bulls returned.
The opening of today session had the bulls in control with price up at $72.25 in the supply area around the trendline. A bounce to the downside is expected in a bigger way as the bears build up momentum at the trendline.
Price is hovering between the two EMAs at $71.92 with the signal of the stochastic oscillator undefined at 57%, suggesting a consolidation ongoing before the massive drop to the downside in the medium-term as pressure on the coin by the bears becomes stronger.
$67.52 a key demand area is the bears' initial target as the journey down south continues.
ZEC/USD Short-term Trend: Bullish
The cryptocurrency is in a bullish trend in the short-term outlook. The bear lost momentum at $69.36 before the closed of yesterday session with wicks in the candle which denote exhaustion. Todays’ opening session opened at with the acted as resistance from 23rd July.
$67.53 was the low the cryptocurrency was at $67.53 with bulls taking charge with the break at the two EMAs. ZECUSD rose to $72.17 in the supply area before minor retracement to $70.30.
Price is above the two EMAs and the signal of the stochastic oscillator is pointing at 49%. These suggest an upward momentum in price of the cryptocurrency. $73.00 in the key supply area is on the card as bullish momentum increase with more candle open and closed above the two EMAs in the short-term.
Live Zcash (ZEC) Price:
1 ZEC/USD = $135.6276 change ~ 5.56%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research