Published: 2018-11-04 09:59:58
ZEC/USD Long-term Trend – Ranging
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.
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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.