Published: 2018-11-04 09:59:58

ZEC/USD Long-term Trend – Ranging

Distribution territories: $155, $185, $215.Accumulation territories: $95, $65, $3

In spite of a notable decline and the last low price point that occurred between October 29 and 31 during the ZEC/USD market trading sessions, the range price lines are still kept intact until now. The last Oct. 25 market high at around $130 territory corresponded with the basic bearish point that eventually marked a previous falling line after an emergence of the confluence that featured between September 24 and 29 that also led to the $107 current low price on Oct. 12.

A decline in price also occurred within a range in the ZEC/USD market valuation about a couple of days. Thereafter, there have been featuring of lower highs below the 14-day SMA’s trend-line the 50-day SMA is located over the 14-day SMA with a short gap. The Stochastic Oscillators have headed off the oversold zone to a slightly pointing north direction a bit above range 20.

The market could still be driven southwards further to either retest the territories between $110 and $100 to possibly find a strong foundation for a decent and better price stride. A violent bearish reversal could cause breaking of the two SMA trend-lines and the $130 price territory northwards to average the $150 distribution territory.

 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

The views and opinions expressed in the article ZCash (ZEC) Long-term Price Forecast do not reflect that of 48coins.com nor of its originally published source. Article does not constitute financial advice. Proceed with caution and always do your own research.

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