ZCash Price Analysis – April 20

Azeez Mustapha
  • In an uptrend, the price makes a series of higher highs and higher lows.

 

ZECUSD Medium-term Trend: Bullish

Supply levels: $280, $275, $270

Demand levels: $250, $255, $260

The ZECUSD pair is in a bullish market ,trading at $267.66. The 20-day and 50-day moving averages are trending northward. However, in the weekly chart, the ZCash price broke the resistance level at $240. The $240 resistance level and the $220 support level kept the price in a range bound movement for four days prior to the breakout.

However, the price is very likely to test the resistance level at $280 and reach another level. An uptrend is present when the price makes a series of higher highs and higher lows. A trader ought to trade along with the trend before it reverses. As the uptrend is in progress, buy low and sell high. Secondly, when the price pulls back from the recent high to the low, you should also place a long trade.

You can exit your positions when the trend line is broken and the candlestick closed in the opposite direction.

ZECUSD Short-term Trend: Bullish

ZCash, ZECUSD, CryptoCompare chart

In the daily chart, ZCash price began the bullish trend at $235 and was resisted at $265. At the $265 resistance, there was a pullback to the $260 low. At that point, the asset price began a range bound movement.  Later, the price rose to the $270 high.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.