ZECUSD Medium-term Trend: Bullish
Supply levels: $285, $280, $275
Demand levels: $255, $260, $265
The price of ZCash is in a bullish market trading at $270.49 as at the time of writing. ZECUSD pair is making higher highs and higher lows. The following trading points are under considerations: Firstly, place long orders at the support levels as designated by the arrows. Secondly, you can look out for price retracement or downward corrections on the naked price action to place your long orders as the price pulls back.
Thirdly, put a stop loss of 100 pips below the support level because of market volatility. Fourthly, the RSI period 14 is level 77 which indicates that the market is overbought suggesting bears taking over the market. At this point all bullish orders ought to be exited. Fifthly, exit all your bullish orders if the bullish trend line is broken by price action
ZECUSD Short-term Trend: Bullish
In the daily chart, you find ZCash in an uptrend with a bullish trend line showing the support levels of price. However, the RSI period 14 is level 60 which indicates that the price is in the bullish trend zone.
