$ZEC Technical Analysis

Zcash (ZEC) bounced back above the 50-day SMA ($474) on Saturday, but higher price levels are attracting selling pressure.

The area between the moving averages and the ascending trendline is a crucial support zone to watch. If the price bounces strongly from this support zone, the bulls will attempt to break through the resistance at the 61.8% Fibonacci retracement level at $574. If successful, the ZEC/USDT pair could surge to $648.

This bullish scenario will be invalidated in the short term if the Zcash price continues to fall and breaks below the ascending trendline. In that case, the pair could fall to $371.

ZECUSDT

دائم

358.61

-2.71%