ZCash Price Analysis – April 13

  • If the bulls break through the resistance at $240, then ZCash price will reach its previous high of $260, but if the bulls lose possession then the price will fall.

ZCash, ZECUSD, CryptoCompare chart

ZECUSD Medium-term Trend: Bullish

Supply levels: $240, $235, $230

Demand levels: $210, $215, $220

ZCash is trading at $227.27 after the breakout at $ 210. From the price action, if the bulls continue to push the price forward, the resistance at $240 would be broken and ZCash will reach its high of $260. The moving averages indicate that price of the asset is bullish. Meanwhile, the RSI period 14 is level 71, which indicates that the market is overbought, suggesting bears will take control of the market.

Even at the overbought market condition, ZCash price can rally at the supply levels.

ZECUSD Short-term Trend: Bullish

ZCash, ZECUSD, CryptoCompare chart

In the daily chart, ZCash is in a smooth uptrend. When the bulls were in control at $205, they took the price to $220 and resumed a range bound movement. After a while, ZCash price soared to $230 and retraced to a range bound movement. The supply levels will be breached if the price remaines bullish for now.

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