ZCASH Price Prediction Today: Daily (ZEC) Value Forecast – July 4
- The short-term is n the downtrend while the medium-term outlook is in a range-bound market.
- Responsible selling in the short-term may be considered.
ZEC/USD Medium-term Trend: Ranging
Supply zones: $120.00, $130.00, $140.00
Demand zones: $50.0000, $40.00, $30.00
ZECUSD is in a range-bound-market in the medium-term outlook. After the fakeout that pushes the coin to $131.85 in the supply area on 26th June, the cryptocurrency it’s been consolidating. $108.96 was the high during yesterday session while $99.70 was the low of the day.
Today’s market opened on a bearish note at $105.86. Increased bears pressure within the range has price at $102.18 below the two EMAs. With the signal of the stochastic oscillator points down at 73%, it suggests a downward momentum in price of the cryptocurrency in may occur within the range with stronger pressure mounted by the bears in the medium-term.
ZECUSD is in consolidation and trading between $0.3900 in the upper supply area and at $0.3200 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
ZEC/USD Short-term Trend: Bearish
The cryptocurrency is in the downtrend in the short-term outlook. A double top was formed after the bulls pushed price to $107.05 in the supply area as the market opens today. The support at the two EMAs was broken with a large bearish candle as ZECUSD fell to $102.38.
Price is above the two EMA with the signal of the stochastic oscillator pointing down at 36%. These imply downward price movement in the short-term.
$96.00 in the demand area is up for a retest as the momentum of the bears increases with more candles opened and closed below the two EMAs.
Live Zcash (ZEC) Price:
1 ZEC/USD =$126.8467 change ~ 2.07%
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