• ZC/USD market has been somewhat suffering a loss around a close range of trading zones.
• The bears may not push southwards further to sustain for a long time around the Bollinger Lower Band.

XZC/USD Medium-term Trend: Bearish

• Resistance levels: $8.50, $9, $9.50
• Support levels: $6.50, $6, $5.50

In the recent trading operations of XZC/USD market, the medium-term trend was in somewhat increase outlook. During the up swinging movement, the pair hit resistance at around $8.

The last 4-hour candlestick formed on June 2 signified a downturn in the crypto-trade, and it is now trading around a low mark below a conjoint location of the 50-day SMA and the Bolinger Middle Band. The Stochastic Oscillators are now seemingly attempting to crosshairs below range 40.

Observantly, there has been no strong price movement in the XZC/USD trade as its major trading zones are found between $8 and $7 price levels. And that could as well cause the market to feature in range moving manner.

XZC/USD Short-term Trend: Bearish

The US dollar appears to continue pressing down the XZC market valuation relatively. Yesterday, the market rose northwards to achieve a price value at $8. As at the time of writing, price has now fallen to trade around a low point at $7.20 mark.

The Bollinger Middle Band and the 50-day SMA are located a bit over the current price point. The Stochastic Oscillators have dipped into the oversold zone to suggest that the market may soon recover its lost.

The bulls’ stance may soon be firmly built around the $7.20 mark. But, if a forceful force occurs against it, the market may see a new low at around $7 mark.

ZCoin:

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