Review on Zcash by adem usta
Zcash on the Rise
Although most altcoins have a weak profile against Bitcoin, the arrival of the altcoin season has begun to be heard louder with the recent rise. One of the remarkable altcoins is Zcash.
ZEC set its historical summit in June 2017. ZEC, which has been below a descending resistance line for 776 days since this period, managed to surpass this level in September 2019.
After the breakout, the RSI indicator on the weekly chart fell into the oversold zone, where it started making a bullish divergence. After that, an upward movement started similar to the 3 other coins we have reviewed before.
Currently, the price is moving above the 100 and 200-day moving average levels, which are close to a bullish crossing. The first resistance for ZEC is at 0.0085₿ level. Subsequently, the level of 0.017₿, where the previous breaking move occurred, can be targeted. If ZEC exceeds here, it may continue to rise up to the 0.03₿ region.
ZEC managed to break above the descending resistance line that has been active for the longest time of any analyzed coins. Similar to the XMR, the 100 and 200-day moving averages have not yet crossed a bull and suggest a new uptrend is at the very beginning.
Pros
- Graph ripple moving
- Held in the market
- It gives positive signals
Cons
- Low price
