2018-11-6 17:00 |
When it comes to predicting future cryptocurrency price momentum, the opinions can be very different between traders and speculators. In the case of the ZCash price, it seems a fair few people expect the value to dip later this year, rather than witnessing an uptrend. The following three predictions all seem to have some merit although it is difficult to tell which one – if any – will come true.
#3 Imminent Short to $123 or LowerThe most recent ZCash price momentum took a fair few people by surprise. After the bearish year of 2018, there were no real expectations for ZEC later in the year. As such, this recent push past $125 is pretty interesting to note, albeit ErenErinc is confident this positive spell will not last all that long.
According to this prediction, the ZCash price will most likely fail to break the next resistance level near $128.3. If that is indeed the case, there is a very real chance ZEC will drop down to $123 first. Assuming that level will remain in place, further sideways trading will occur in the weeks to come. It is not the biggest drop-off to contend with, albeit it is still rather interesting regardless.
#2 Short to $110 and LowerA completely different chart by Muhammetyuksel paints an even more bearish outlook for ZCash right now. He is confident ZCash is stuck in an ascending wedge, and until the resistance level near $130 can be broken, a further dip will happen eventually. At the same time, there is no guarantee the $130 level will not be broken in the next few days.
Assuming this prediction comes true, however, it would appear the ZEC value may continue to trend down toward the $110 level again. This has been a key support level for this altcoin throughout September and early October. A very interesting chart to look at, albeit it will primarily depend on what happens in the next few days, by the look of things.
#1 Long Until $250As is always the case, the negative expectations surrounding Zcash are mixed in with at least one massively bullish chart. The upcoming resistance level of $130 will apparently be broken with ease, according to Mkouchi3. Once that happens, the floodgates will open for more money to pour into ZCash, effectively elevating the price all the way to $250 or possibly even higher.
Although it remains to be seen if $200 or $250 is even a realistic target, this particular chart shows things could get very interesting moving forward. The ZCash price will undoubtedly remain a topic of conversation for quite some time to come, albeit the exact trend cannot be accurately predicted at this time. Even so, speculators will be waiting for whatever may come their way.
The post 3 Short-Term Profitable ZCash Price Predictions appeared first on NullTX.
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