Zcash Continues Its Range above $300

The Zcash price is in a sideways trend and has fallen below the moving averages.

Zcash price long-term forecast: ranging

For the past month, the altcoin has been trading in a range above the $300 support and below the moving average lines or the $600 resistance level.

Today, the upward movement has stalled below the 21-day SMA. ZEC will continue to decline if it turns down from the 21-day SMA and falls below $320, its current support level, potentially dropping to a low of $246. However, if the upward trend breaks above the 21-day SMA, the altcoin could return to its previous high of $556.

Technical Indicators

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  Key Resistance Zones: $700, $750, and $800

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  Key Support Zones: $400, $350, and $300

Zcash price indicators analysis

The 21- and 50-day SMAs are moving horizontally, indicating a lateral trend. The 21-day SMA has crossed below the 50-day SMA, signalling a decline. On the 4-hour chart, the price bars are above the upward-sloping moving average lines. The altcoin will appreciate if the price remains above the moving average lines.

What is the next move for Zcash?

Zcash is in an upward reversal following its recent drop above the $320 support level. On the 4-hour chart, the rising trend broke above the moving average lines but was halted at $385. The cryptocurrency price is currently trading above the $320 support but below the $390 barrier. When range-bound levels are breached, the altcoin will trend.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.