ZECUSD Medium-term Trend: Ranging
Supply levels: $244, $243, $242
Demand levels: $238, $239, $240
Last Monday, ZCash was trading at $234.02 and the bulls took the price to $270.49. However, the bulls could not sustain their control to push the price beyond the resistance level of $280 but the bears took control and brought the price to its low of $236.30.
Today, Zcash is trading at $228.23 as at the time of writing. Presently, the price of ZCash is a ranging market oscillating between the resistance at $280 and support at $220 since last week Friday. Meanwhile, the RSI period 14 is level 56 which indicates that price is in the range bound zone.
ZECUSD Short-term Trend: Ranging
The daily chart shows ZCash in a ranging market. The price is oscillating between the resistance at $245 and support at $240. The price action is also choppy. That is price is not evenly apart between the resistance and support. Meanwhile, the RSI period 14 is level 50 which indicates that the price is in a range bound zone.
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