ZCash Price Analysis – March 19

ZCash, ZECUSD, CryptoCompare chart

ZECUSD Medium-term Trend: Ranging

Supply levels: $260, $250, $240

Demand levels:$200, $210, $220

The price of ZCash has broken the trend line and the candlestick opened and closed on the opposite side of the trend line. Meanwhile, the price resumed its range bound movement. This breakout will make the price to go far away from the trend line enabling traders to make more profits. ZCash is currently trading at $234.02 as at the time of writing.

The price of ZCash is expected  revisit its previous high of $300. However, the RSI period 14 is level 70 which indicates that  the market is overbought.

 ZECUSD Short-term Trend: Ranging

ZCash, ZECUSD, CryptoCompare chart

From the daily chart, the price of ZCash was in a range bound movement at the price of $210. The price rose to the level of $250 and resumed its range bound movement. Meanwhile, the RSI period 14 is level 9 which indicates that the market is oversold suggesting bulls taking over the market.