ZEC/USD Long-term Trend – Bearish
Distribution territories: $300.00, $330.00, $360.00.
Accumulation territories: $160.00, $130.00, $100.00.
The USD dollar still increased in market price worth last week as paired with ZCash. The crypto digital asset witnessed a significant decline in price value against the US dollar on June 22, just like some other cryptocurrencies. The bears have been able to drive the price value briefly past the last lowest price that once experienced between April 6 and 9.
The crypto asset’s price action has been noticeably falling southwards while touching the trend-line of the 14-day SMA. The 50-day SMA is located above the 14-day SMA. The 14-day SMA has briefly moved past below the accumulation territory of $200.00. The 50-day SMA is slightly bent southward. The Stochastic Oscillators have dipped into the oversold zone and now consolidating below range 20. This implies that the market is currently reposing from its recent activities.
Pushing of this crypto asset’s market value more southward against the value of USD dollar can cause panic sell-offs. If that possibly happened, the bulls are expected to stay watchful, and also look out for any probable reversal. Investors, as well as the traders, can join the market while a strong bullish Japanese candlestick emerges. The traders should always exercise proper financial guiding principles to the letter.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.