ZCash, ZECUSD, CryptoCompare chart

ZECUSD Medium-term Trend: Bullish

Supply levels: $290, $288, $286

Demand levels: $278, $280, $282

Last week, the ZECUS pair was not left out of the bullish market. It traded to the $320 high but was resisted by the bears that brought the price to $275. ZCash price did not decline further but went into a range-bound movement between the $275 and $300 levels. ZCash was trading at $ 284.73 at the time of writing.

However, the price is still in that trading range confinement and it’s fluctuating between the resistance level at $300 and the support level at $280. A breakout is possible between these levels and the price is expected to break the resistance level at $300 so that ZCash will revisit the previous high of $400. However, if the price declines further, a short position should be taken at the $260 support level.

Nevertheless, the relative strength index period 14 is level 25, which indicates that the market is oversold, suggesting the bulls will take control of the market.

ZECUSD Short-term Trend: Ranging

Zcash, ZECUSD, CryptoCompare chart

The daily chart shows ZCash price in a range-bound market after it rose from $284 to $298.

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