Zcash Price Analysis – ZEC/USD

Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin. Like Bitcoin, Zcash has a total fixed supply of 21 million units. The 21st largest cryptocurrency – Zcash with its current market cap traded at $309,604,496 (04:52 UTC) on January 18 dipped in current value by 59.8% compared to November 12 as analyzed from the graph above. The significant fall in value was due to the strong bearish pressure, macro factors and of courses competitive forces from around the world.

However, the ZEC/USD pair remained ‘uptrend’ from December 21 to December 24 as interpreted from the graph above which signifies the bullish trend since the ZEC/USD pair increased dramatically by 9.08% compared to December 14 which can well be analyzed from the graph above, which signifies the bullish sign going forward.

Both the moving averages have declined from November 13 until December 18 last year thereby creating downward pressure over the value as interpreted through the line in the graph above. Since current value trades below the 20-day EMA, which signifies ‘downtrend’ in value. Amid this ZEC shows that the bears have the upper hands as the ZEC/USD pair remains in bearish trends for some time until the next “uptrend” takes place. Traders should remain on the sideline until the next ‘uptrend’ takes place as the ‘descending channel’ shows how this asset experienced downtrend in value until November 26 last year.

Now let me walk you through certain milestone that this cryptocurrency attained in the recent past. The ZEC/USD pair remained range bound from October 11 to November 07 last year, as the cryptocurrency rallied from a low of $108 to a high of $138 which is a 27.78 percent return within 27 days.

Speaking specifically to the company, Zcash transaction data is posted to a public blockchain which is differentiated compared to Bitcoin where Zcash ensures your personal and transaction data remain entirely confidential. With this, zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver or transaction amount. The selective disclosure features in place, Zcash enable a user to share some transaction details to compliance or audit. Zcash also allows for transparent transactions, to accommodate for wallets and exchanges that don’t support private transactions. Zcash was developed and launched by top cryptographers in 2016.

As we can quickly analyze from the graph above that the MCap traded at 308,458,561 USD (04:55 UTC) with the Price (BTC) 0.1479300 and Price/USD 54.15 (04:55 UTC) 24h Volume 155,285,496 (04:55 UTC) . As we can interpret from the graph above, the MCap traded all-time high on January 06 above both prices – Price/USD and Price/BTC and then declined dramatically and raised in value again on January 15. However, today (04:55 UTC) Price/USD traded highest then MCap and Price/BTC. Let us not forget that the Zcash is poised to offer the best return to all those investors that have invested in this asset, and investors and all those community users may explore to create the long position to the extent that the ‘uptrend’ created and remained for some time.

While we can estimate from the first graph, if bulls succeed in rising and sustaining above the current resistance level $54.51 (05:01 UTC) and create “uptrend” in value (i.e., traded above the EMA) the investors will start buying this currency more and more thereby increasing its value. However, based on the current trend, the next support level could be $56.

Please feel free to visit https://z.cash/ to know more about this cryptocurrency!

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