ZECUSD Medium-term Trend: Ranging
Supply levels: $184, $186, $188
Demand levels: $172, $174, $176
Last week, ZCash was fluctuating between the resistance at $280 and the support at $220. On Monday, April 2, price of ZCash was trading at $198.74 and the bulls were in control of price as they took price beyond $200. This bullish move was short lived as the bears took price to its low at $177.87. From the weekly chart, price of ZCash is ranging between the resistance at $210 and the support at $180.
Meanwhile, the RSI period 14 is level 18 which indicates that the market is oversold suggesting bulls to take control of the market. The oversold condition may rally and if the bulls could not hold on to this level price may fall again. But if they do, price will continue its range bound movement.
ZECUSD Short-term Trend: Ranging
ZCash price was ranging at $184, but later it rose to $190 to continue its range bound movement. ZCash later fell to its low at $180.
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