ZEC/USD Long-term Trend – Ranging Distribution territories: $70, $80, $90 Accumulation territories: $40, $30, $20

Price range movements still continue to feature in the market valuation of ZEC/USD until today. In the preceding days before January 28, the crypto was seen ranging significantly around $60 and $50 marks.

On February 3, the pair strived to swing upward against the 14-day SMA at $50 price territory. The 50-day SMA is located over the 14-day SMA, yet, they still slantingly bent towards south-east with price hovering closely below $50 horizontal price line. The Stochastic Oscillators have opened hairs to point north at range 40. That signifies the possibility of witnessing the market to move up soon.

There has been no point in time that the 14-day SMA indicator has been able to cross back the 50-day SMA from below since a major decline in the crypto’s trade on November 14. There are yet possibilities of seeing this crypto lower somewhat into other range zones while the bulls fail to push the market northwards.

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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