ZECUSD Medium-term Trend: Ranging
Supply levels: $185, $184, $183
Demand levels: $179, $180, $181
The ZECUSD pair is currently trading at $182.48 and it is in a perfect ranging market. However, from the weekly chart, price of ZCash is oscillating between the resistance at $210 and the support at $180. Price of ZCash is evenly apart between the resistance and the support levels. However, you can trade the range bound market before price breaks any of these levels.
The bulls are supposed to hold price at this level or push price further to the next resistance level. But if the bears break the support level, then price will fall the next support level. Meanwhile, the RSI period 14 is level 60 which indicates that price is in the bullish trend zone.
ZECUSD Short-term Trend: Ranging
In the daily chart, price of ZCash is in a choppy price action. Price is consolidating and in a range bound movement. This kind of market is not tradable because of the choppy price action
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