ZEC/USD Settles Above $45 Resistance

The Zcash price prediction reveals that ZEC may continue to follow the bullish movement as the coin hovers around the $45 resistance level.

Zcash Prediction Statistics Data:

• Zcash price now – $45.8
• Zcash market cap – $729.2 million
• Zcash circulating supply – 15.8 million
• Zcash total supply – 15.8 billion
• Zcash Coinmarketcap ranking – #54

ZEC/USD Market

Key Levels:

Resistance levels: $60, $65, $70

Support levels: $35, $30, $25

Based on the current prediction, ZEC/USD could hit $50 in the next positive step, if the bulls continue to increase the buying pressure. The Zcash price is currently trading at $45.85, although the coin touches the daily high of $46.42 resistance level above the 9-day and 21-day moving averages, it could probably retest $44 before it rises again.

Zcash Price Prediction: ZEC/USD May Spike to the Upside

At the time of writing, the Zcash price is beginning to follow an upward movement. A break above the $45 level could encourage more buyers to increase their entries, and this could push the price to the resistance levels of $60, $65, and $70. On the downside, once the price breaks below the moving averages and heads toward the lower boundary of the channel, the sell-off could gain traction with the next focus below the $40 support.

Moreover, if the above mentioned-support is broken, the downside pressure may increase while the next support may be created at around $35, $30, and $25. The technical indicator Relative Strength Index (14) is likely to cross above the 60-level to increase the bullish movement.

When compares with Bitcoin, the Zcash price is hovering above the 9-day and 21-day moving averages and a daily close above the resistance level of 2700 SAT could encourage the bulls to extend the rally towards 3000 SAT and above. In other words, a close below the 9-day and 21-day moving averages could reverse the Zcash price direction towards the daily support at 2500 SAT.

However, any bearish movement could take the coin to the support of 2400 SAT and below. Meanwhile, there is a possibility that ZEC/USD may continue the bullish trend as the technical indicator Relative Strength Index (14) crosses above the 60-level with the signal line facing up to indicate bullish movement.

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