• The short and medium-term outlook is in a bullish trend.
• Traders may look to buy at the key support area.

ZEC/USD Medium-term Trend: Bullish

Supply zones: $150.00, $170.00, $190.00
Demand zones: $50.0000, $40.00, $30.00

ZECUSD is back in a bullish trend in the medium-term outlook. The target at $92.00 in the demand area predicted yesterday for the bears was narrowly missed. The bears' momentum was lost after a drop to $93.41 with the wick in the candle which indicates bears exhaustion.

The tweezer bottom formed before the end of yesterday session signaled bulls presence as price shot up to $107.68.

Today’s 4-hour opening candle at $105.39 closed bullish thus confirming the bulls takeover. ZECUSD rose to $114.15 in the supply area shortly after opening as the bullish continuation resumes.

The signal of the stochastic oscillator points up at 47% with price up above the two EMAs. These suggest an upward momentum in price in the medium-term.

$130.00 in the supply area of yesterday high may be retested as the bulls journey north.

ZEC/USD Short-term Trend: Bullish

The cryptocurrency is in the uptrend in the short-term outlook. The wicks at $114.15 in the demand area are signs of bearish exhaustion. The bullish pin bar at $98. 53, signal trend reversal as the bulls push price up to $114.15 before the end of yesterday market.

$104.62 was today’s opening price with the increased bullish momentum, the two EMAs was broken with a large candle. ZECUSD rose to $114.90 in the supply area.

Price is above the two EMA with the signal of the stochastic oscillator pointing up at 84% in the overbought region. These suggest an upward price movement in the short-term.

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