Zcash price analysis: where does ZEC / BTC make the bottom?
June 27, Zcash price reached a minimum of 0.002 rubles. It began to grow and reached a maximum of about 0.01 in two separate cases, June 28 and July 2, respectively. Since then, it decreases. July 15, he briefly hit a low below 0.007. Where does the ZEC price go? Keep reading below to find out. Zcash Price: Trends and Major Events for July 19 ZEC / BTC is trading at a record low. In RSI & MACD a very significant bullish divergence develops. ZEC price is trading within a short-term symmetrical triangle. There is support at 0.007. ZEC Weekly Price Analysis A look at the weekly timeframe shows that the ZEC price has fallen to a record low. Between 2017 and the first half of 2018, the ZEC price did not fall below not0.02.
However, this was done in August 2018.
Since then, it has declined and has not yet reached the bottom.
Let’s take a closer look at when and where this can happen.
ZEC Long Term Price Support A look at the daily time frame shows that the ZEC price has recently left the zone of significant support. ZEC price has created a horizontal support line around .000,0083, starting from May 13.
ZEC Long Term Price Support The price of significant support. ZEC price has created a horizontal support line around .000,0083, starting from May 13.
After that, he confirmed this as resistance on June 13 and 17.
Continuing with the same time period, we see that both the RSI and MACD have generated bullish discrepancies. The differences are extremely significant and are present in both indicators.
However, the Zcash price does not follow any model – therefore there are no support lines that could initiate an upward movement.
Therefore, although the price of ZEC has demonstrated a willingness to go up, we do not yet have signs of a clear bottom.
The lack of a bottom is increasing as the ZEC price has not yet reached a higher minimum.