Almost all coins in the crypto market have been enjoying the presence of the bulls, which has led to a significant increase in their values. As the waves of green flow across the crypto market, Zcash (ZEC) is not left behind.
The bullish overwhelming Japanese that emerged on the 13 of July has been the turning point of the present bullish trend in the digital currency market. Since then, the bulls have established and made known their presence in the market.
Zcash (ZEC) Price Today – ZEC / USD
At the time of writing, Zcash (ZEC) is changing hands at $187 after an increase of more than 5 percent over the past twenty-four hours. The market cap of the digital currency has also increased to $834.19 million and a trading volume of $40.34 million over the past twenty-four hours.
Zcash (ZEC) Price Analysis
The price line of the digital currency declined below the bottom of the Japanese candlestick that was formed on the 18th of July but over the 50-Day simple moving average. The downward movement continued until the 20th and 21st of July to the point of taking the value of the coin a bit past the trendline of the 14-Day simple moving average.
The stochastic oscillators are also moving upwards but they are crossed below the range 80 to head south. This means that further trading actions should be laid down for a while. The major support level of the coin that the bears are not expected to cross easily is $150.
This means that the bulls need to leverage the present market condition to amass much-needed momentum to make a fast comeback into the market. Investors can perhaps wait for a strong reversal of the present shorting positions to start a long entry with financial management guiding rules.