ZEC/USD Long-term Trend – Ranging

Distribution territories: $120, $140, $160
Accumulation territories: $50, $30, $10

Last week, the ZEC/USD market worth was in a bearish trend outlook, but the crypto could not push southwards further after hitting a strong accumulation territory of the $60 on November 25. Between November 26 and 27, the crypto tried to build up a notable momentum and the market went up on November 28 and 29 to slightly break northwards past the 14-day SMA’s trend-line to touch the $95 mark.

Currently, the market has been fluctuating along with the 14-day SMA’s trend-line between the $95 and the $75 range points about three days to this trading period. The 50-day SMA is far above the 14-day SMA. The Stochastic Oscillators have headed north direction to find a location around range 40.

The ZCash market decline may still be witnessed if the $95 price territory sees a sudden correction after which it is breached northwards. In addition to that assumption, a sustainable breakout of the said market mark could result in touching past or around the 50-day SMA’s trend-line location.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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