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Zcash "ZEC" Technical Analysis | 10 September 2019

2019-09-10 08:00 am | Resource: Technical Analysis Section | No Views : 28

Zcash Cryptocurrency Zcash (ZEC) during last week's trading failed to breach the $ 47.28 resistance areas due to weak buyers' determination.
Thus, the cryptocurrency fell towards $ 44.45 from which it bounced back to try to penetrate the initial resistance areas during yesterday's trading and failed again to penetrate due to weak demand, thus falling towards $ 45.64.
Zcash "ZEC" Technical Analysis | 10 September 2019
The digital currency Zcash (ZEC) does not take a definite direction supported by technical indicators to trade through it thus our view on it neutral on the interval 240 minutes.

Analysis of technical indicators of the digital currency Zcash (ZEC):

 
The ADX is currently neutral as a result of trading below 20 pips.
The SMA and the Slow SMA are neutral as they are not trading in a specific direction.
Momentum indicator with default settings is bearish without confirmation as it is still trading above $ 45.64.
Technical indicators as a whole do not point to a specific direction, which supports our view.

Outlook:

It is expected that, in the event of a digital currency breakthrough area of ​​$ 48.40, Zcash (ZEC) may target the level of $ 55.05.
On the other hand, if the cryptocurrency breaks the $ 44.45 zone, Zcash (ZEC) may target $ 38.49 zones.
Support: 38.49- 31.85- 25.00
Resistance: 47.28-50.52--55.05
Trend: Neutral

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