ZECUSD Medium-term Trend: Bullish
Supply levels: $335, $330, $325
Demand levels: $305, $310, $315
Yesterday, price of ZCash was expected to reach the high of $300 after the breakout at the resistance level of $280. The bulls made three attempts at the level of $280 before the level was broken.
However, the ZECUSD pair is trading at $314 as at the time of writing. However, from the weekly chart, price of ZCash is still rising. The 20-day moving average is above the 50-day moving average which indicates that the asset is rising. The relative strength period 14 is level 63 which indicates that price of the asset is in a bullish trend zone. Price of ZCash may reach the high of $350 but may encounter serious resistance at the price of $400.
ZECUSD Short-term Trend: Bullish
In the daily chart, price of ZCash is in a bullish trend. The bullish trend commenced at a price of $290 and soared to the high of $320. In the shorter term trend, traders can trade the bullish market by placing long trades whenever price pulls back. Then place your stop loss below the support level or to the low of the price.
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