๐ Exciting Zcash (ZEC) Update! ๐
๐ The ZEC price is on a rebound, retracing from the upper trendline and holding gains near the 200-day EMA at $30.92.
๐น Witnessing a rejection from the $35 swing high, ZEC is in a rising channel, signaling a trend reversal from $21 lows.
๐ Technicals suggest bullish momentum, with a potential retest of highs and a sail towards $50. Keep an eye on the immediate support at $27.
๐ Zcash is a fully anonymous and decentralized crypto using zero-knowledge cryptography for untraceable transactions.
๐ก Key Levels:
- Support: $28, $25
- Resistance: $35, $38
๐ Intraday drop of 7.73% with increased trading volume. Analysts maintain a neutral rating, expecting volatility.
๐ On daily charts, ZEC rebounds from the 50-day EMA, facing resistance at the 200-day EMA. RSI shows a volatile outlook, MACD signals bullish crossover.
๐ Weekly charts display a trendline breakout, initiating a rebound within a rising parallel channel. Buyers eye the $35 resistance.
๐จ Disclaimer: Views are for informational purposes only, not financial advice. Crypto and stocks involve risk. Do your research!
