Zcash Technical Analysis: ZEC/USD pokes through $60 but gets rejected at $61.5
Crypto News

Zcash Technical Analysis: ZEC/USD pokes through $60 but gets rejected at $61.5

  • ZEC/USD is up 9% in the last 24 hours after climbing above several daily resistances.
  • Zcash has confirmed a daily uptrend.

Zcash is up 200% since March 13 but was slowing down significantly over the past three weeks. ZEC/USD was inside a daily downtrend after losing the 12-EMA and hitting a lower low at $48. On June 22, ZEC had an initial bull surge to $53.62 from a low of $50.3. On June 23, buyers followed up with more strength pushing Zcash above $60, hitting $61.54 before a mild pullback to $58.47.

ZEC/USD daily chart

ZECUSD

On June 22, buyers pushed Zcash above both daily EMAs which have been bullish for months. On June 23, ZEC climbed above the resistance level at $55.56 and $56.33 and it’s not facing any more resistance until $64.24. 

ZEC/USD 4-hour chart

zecusd

Zcash is also in an uptrend on the 4-hour chart and has a clear path towards $60 and $64. For support, buyers can use the 12-EMA and the previous high of $56.33.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.