ZECUSD Long-term Trend: Ranging
Distribution territories: $250.00, $300.00, $350.00.
Accumulation territories: $150.00, $100.00, $50.00.
ZECUSD pair managed to make a move a bit below the last week’s immediate accumulation territory 0f $200.00. The stochastic oscillator is not indicting a southward or northward zone. The moving average 13 lies below the moving average 50 and the price has well been ranging from the two moving averages.
In view of that, the price is trying to find its definite directional trend. By looking at the moving average and stochastic osilator, a ranging movement is still on course as at the time of writing. Investors can still stay watchful and await a strong price action that can suggest a safe entry. The market can be entered by taking a short position if it forms a long bearish candlestick that can break the immediate accumulation territory of $150.00 or a long position for breaking out and keeping well above the immediate distribution territory of $250.00 and $300.00 in extension.
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