2018-12-16 12:40 |
ZEC/USD Long-term Trend – Bearish
Distribution territories: $105, $125, $145
Accumulation territories: $30, $20, $10
Despite what tends to be a recovering move by ZCash against the US dollar market valuation over a couple of days, its trend-outlook still look bearish until now. On December 9, the crypto briefly surged upwards to test around $64 market line underneath the 14-day SMA’s trend-line.
Ever since then, the market has been successively falling from the said mark to achieve a low of around $48 market point while double bottoms of Japanese candlesticks were also observed at the same market line. The 14-day SMA is situated below the 50-day SMA. The Stochastic Oscillators have penetrated into the oversold zone to consolidate within it.
As at now, the crypto has been making a weak effort at recovering from the selling pressure exerted on it by the US dollar. And, as such that recovering mode lacks a strong breaking-out strength may lead to setting a trap for the bulls.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
origin »Zcash (ZEC) на Currencies.ru
![]() ![]() ![]() ![]() ![]() ![]() |