ZCash Price Analysis – April 18

  • The price resistance at $240 has been a bulls' nightmare.

ZCash, ZECUSD, CryptoCompare chart

ZECUSD Medium-term Trend: Ranging

Supply levels: $270, $260, $250

Demand levels: $210, $220, $230

ZCash price is currently trading at $236.54. For about a week, the price oscillated between the resistance at $240 and the support at $220. The bulls have tried without success to break the resistance at $240, same as the bears have tried with the support level.

Whatever the case may be, a breakout is imminent. Meanwhile, the RSI period 14 is level 87, which indicates that the market is seriously overbought, suggesting bears will take control of the market. However, from the price action, the bulls are likely to break the resistance level at $240.

ZECUSD Short-term Trend: Ranging

ZCash, ZECUSD, CryptoCompare chart

In the daily chart, the ZCash price has no directional movement. It was moving horizontally at $230, before falling to $225. It was also moving horizontally at every price levels. In the daily chart, the RSI period 14 is level 31 which indicates that the market is oversold, suggesting bulls will take control of the market.

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Zcash 'Company' Changes Name to 'Zerocoin Electric Coin Company' for More 'Clarity'

The Zcash company, which supports the ongoing development of the Zcash (ZEC) platform, a leading privacy-oriented cryptocurrency, has rebranded to the Electric Coin Company.

According to an official company blog post, the name change from “Zcash company” to “Electric Coin Company” was made in order to have more clarity. Explaining that the “legal name” for the firm was always “the Zerocoin Electric Coin Company, LLC”, the organization clarified that it had been referring to itself as “the Zcash company.”

However, the company’s blog noted that the development of “Zcash” is a community-based project and that some of the privacy coin’s business-related initiatives may involve the Zerocoin Electric Coin commercial entity. Moreover, Zerocoin’s operations are not directly associated with the Zcash Foundation - which in itself is a “separate and independent” organization, according to the z.cash blog post. Notably, the Zcash Foundation has “its own mission, team, and board of directors.”

Rebranding Process: New Domain, Change Office Sign

Acknowledging that it will take the company “a little while to get the new branding right, launch a new domain, and change out the sign at the office”, the company blog mentioned that “the name change is public.” Except for the name change, the entity associated with Zcash explained: 

We are the same team, with the same mission: to empower everyone with economic freedom and opportunity. We developed and help steward Zcash.

Zerocoin's Research & Engineering Projects May Not Be Integrated Into Zcash 

Notably, the Electric Coin Company is currently working on “research and engineering [projects] that may, or may not” be integrated into the Zcash codebase, the blog noted. At present, the Electric Coin team consists of around 30 professionals from across the globe that are involved in the following initiatives:

  • “Product Development and Support”,
  • “Builds Zcash software”,
  • “Participates in cryptographic research”,
  • “Works with third parties to perform regular security audits of Zcash”,
  • “Improves the safety and security of the Zcash network”,
  • “Works on the Zcash user experience, such as the reference wallet” 

Company Website, Social Media Accounts To Be Changed/Updated Soon

In addition to working collaboratively on the initiatives listed above, the Electric Coin company helps in “translating content into different languages”, creates "educational content”, and supports the overall development of the Zcash platform.

As mentioned in the company’s announcement, the Electric Coin company “information will be moved from https://z.cash/ to a new domain with its own website.” Social media accounts associated with the company will also be updated.