Altcoins

Zcash $ZEC Price Outlook: Sideways

@KittyBitcoin logo
December 06 2018 04:17 UTC
Zcash has lost -5.66% in twenty-four hours. In this Thursday Edition find $ZEC price action, trend, technicals and more. Or jump right to the 24 Hour Zcash $ZEC Price Outlook.

 

Price Action

The price of $ZEC has fallen over twenty-four hours. The last price at press time is 0.017505 BTC. In Binance light to moderate volume trading the daily change is -5.66%, or -0.00105 BTC:
$ZEC Price Change
period % BTC
24 hours -5.66 -0.00105
7 days -14.59 -0.00299
1 month -8.09 -0.00154

News

Trend

trend is DOWN

The Zcash monthly trend is down. It’s been quite the roller coaster ride for Zcash when you look at the daily chart. On November 28 $ZEC posted a high of 0.0222 BTC (today this is valued at $82.27). Yesterday $ZEC printed a low of 0.017275 BTC (today valued at $64.02).

Looking at the broader picture we see the Zcash price -8.09% lower today than it was a month ago, and down -14.59% on the week.

[Trend is "down" when the monthly price movement is predominantly downwards.]

Chart

Tap / click to zoom:

chart-zec-btc-4hourcandles-2018-12-05

Remarks

It used to be that when an asset was launched on Coinbase the price saw tremendous interest. Not so today, here are the numbers right off Coinbase:

ZEC-USDC
Select Market
65.13 USDC Last trade price
-9.02%24h price
7,155 ZEC24h volume

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is bearish.

[MACD is a trend-following momentum indicator]

Exponential Moving Averages (EMA)

period average
7 day 0.017985 BTC
25 day 0.018530 BTC
99 day 0.018791 BTC

The short term EMA is below both the medium and long term EMA, and is pointing downwards. This is a bearish state.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

Relative Strength Index (RSI)

The Relative Strength Index on the one hour chart is 36.7. The one, two and four hour RSI are all in the neutral zone.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

Bitcoin Price Modifier

The 24 hour Bitcoin change is -3.00%. This may exert a bearish influence on Zcash today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

24 Hour Zcash $ZEC Price Outlook

sideways

  • the twenty-four hour Zcash $ZEC price outlook is sideways
  • if the price finds acceptance at higher levels the immediate resistance prints at 0.017749 BTC
  • if the price finds acceptance at lower levels the immediate support prints at 0.017275 BTC

 

Resistance levels: 0.017749 BTC 0.019603

Support levels: 0.017275 BTC 0.016570

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its analysis period.

 

Disclosure

The author does not hold Zcash $ZEC at the time of writing.

About @KittyBitcoin

KittyBitcoin logo

@KittyBitcoin has provided timely and informative blockchain intelligence since 2014. Request your custom content today, browse @KittyBitcoin on Twitter® or visit the KittyBitcoin.com website.

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KittyBitcoin supplies blockchain intelligence on http://kittybitcoin.com, on industry leading websites, and through white label channels since 2014. Follow @KittyBitcoin on Twitter®.
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