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

ZCash has continued to trade against the US dollar in almost the same manner it did last week. Most of these price range movements have been coming up tightly along the 14-day SMA indicator within $60 and $50 range marks.

The two SMA indicators are located within the range zones. The 50-day SMA is situated a bit over the 14-day SMA. The Stochastic Oscillators are now consolidating closely below range 20 in the oversold zone. That could signify the possibility of long-range movements in the market.

It’s still been established by indicators that this crypto-market is somewhat under downward pressure as it has been trading along with the 14-day SMA underneath the 50-day SMA over the time. The bulls need breaking out of the 14-day SMA northwardly. And interception of the 50-day SMA from below by the 14-day SMA may potentially allow a better supporting stride in the market. Meanwhile, that assumption may not probably come to play quickly in this week’s trading sessions.

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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