Altcoins

Zcash $ZEC Price Outlook: Bullish

@KittyBitcoin logo
December 17 2018 18:24 UTC

 

Zcash has gained 1.39% or 0.000219 BTC in twenty-four hours. In this Monday Edition find $ZEC price action, trend, technicals and more. Or jump right to the Zcash $ZEC Price Outlook.

 

Price Action

The price of $ZEC has risen over twenty-four hours. The last price at press time is .015987 BTC. In Binance light volume trading the daily change is 1.39%, or 0.000219 BTC:
$ZEC Price Change
period % BTC
24 hours 1.39 0.000219
7 days -0.86 -0.000139
1 month -20.02 -0.004002

Trend

trend is MIXED

The Zcash weekly trend is mixed. $ZEC began the weekly trend with four red candles. The last three days have all been green.

$ZEC saw two strong days of upwards movement in late November on the 26th and 28th. This produced the highest price of the quarter .022200 BTC.

[Trend is "mixed" when the weekly price movement contains both green and red daily price candles, price movement up or down is significant, and there is no clear weekly price direction.]

Real Time Market Depth

The real time market depth is bullish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

zec-btc-binance-six-hour-candles-2018-12-17

 

Remarks

Four days ago on December 13 2018 $ZEC saw its lowest price this quarter of .015056 BTC. Earlier on November 28 2018 ZEC saw its highest price of the quarter .022200 BTC. Today we are seeing the effect of a twenty-four hour 6.82% bitcoin increase which has placed most of the altcoins including $ZEC firmly into the green.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the one hour chart is bullish.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day .01582
25 day .01585
99 day .01710

The one, two, four, six and twelve hour MACD is bullish.

The $ZEC short term EMA (7) soared above both the medium (25) and long term (99) EMA on December 15 2018. Since then it has fallen in three minor dips but not below the medium term EMA. In the last three hours Zcash has taken on a steep ascent angle. These are bullish states.

The last two hourly candles are green and large.

[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 chart is 63.4. This is a neutral state.

[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 6.82%. This may exert a bullish influence on Zcash today.

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

 

Zcash $ZEC Price Outlook

bullish

  • the Zcash $ZEC price outlook is bullish
  • if the price finds acceptance at higher levels the immediate resistance prints at .016191
  • if the price finds acceptance at lower levels the immediate support prints at .015500
Resistance levels: .016191 .0169 .0172 .0190

Support levels: .015500 .015056 (.012775 September 09 2018)

 

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

Thanks for reading 🙂
KittyBitcoin supplies blockchain intelligence on http://kittybitcoin.com, on industry leading websites, and through white label channels since 2014. Follow @KittyBitcoin on Twitter®.
Free AllCoinsNews Email Updates
Get the latest cryptotoken market news and blockchain developments!
We respect your privacy.