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 20th largest cryptocurrency – Zcash having its current market cap stands at the level of $317,340,476 (06:05 UTC) on January 13 dropped in current value by 17.8% relative to the level of December 24 as analyzed from the graph above. The sharp bearish pressure that caused a drop in the amount corresponding to December 24 which can be visible from the analytics above.

However, the ZEC/USD pair almost ‘uptrend’ from December 21 to January 01 as interpreted from the graph above which signifies the bullish trend.

Amid this, the ZEC/USD pair gained in value dramatically by 14% compared to December 14 which can well be analyzed from the graph above, which elaborates that the bullish trend may expect to accelerate soon! Based on the analytics above, since both, the moving averages are declining like a stone by creating the downward pressure over the value as interpreted through a line in the graph above. The 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 who would like to invest into this cryptocurrency may explore to create long position the moment ‘uptrend’ takes place and remained for some time!

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 08 last year, as the cryptocurrency rallied from a low of $108 to a high of $139.9 which is a 29.5 percent return in 28 days.

On a company-specific front, Zcash is a digital currency with robust privacy features. Transact efficiently and safely, with low fees, while ensuring digital transactions remain private. Additionally, it is shielded. Zcash transactions are entirely private. Let us not forget that all Zcash transaction data is posted to a public blockchain; but unlike Bitcoin, Zcash ensures your personal and transaction data remain entirely confidential. The zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver or transaction amount. Amid this, the selective disclosure features within Zcash enable a user to share some transaction details, for purposes of compliance or audit. Zcash also allows for transparent transactions, to accommodate for wallets and exchanges that don’t support private sales. On the intangible assets front, Zcash was developed and launched by top cryptographers in 2016. The underlying protocol is based on the research of scientists from MIT, Technion, Johns Hopkins, Tel Aviv University and UC Berkeley!

Now, let me walk you through the trading moment of Price, and Market Cap of ZEC as follows:

As we can quickly analyze from the graph above that the MCap stands at 317,979,669 USD (06:15 UTC) with the blue trend line, and Price (BTC) 0.01532789, and Price/USD is 56.17 through orange trend line with 24h Volume 153,262,170 USD (06:15 UTC) can be interpreted from the graph above.

Since the Price/USD traded all-time high on January 06 with that to Price/BTC traded below it, however as of today, the Price/USD traded below the Price/BTC and current MCap which can be analyzed from the graph above! Let us not forget that this altcoin experienced fluctuated trends today while attaining the lowest on January 10. However, based on the value-added models and offering in place, Zcash is poised to create bullish pattern going forward.

While we can estimate from the first graph, if bulls succeed in rising and sustaining above the current resistance level $56.35 (06:24 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. It seems that this altcoin will soon begin to trading beyond the 20-day EMA thus creating the bullish pattern and may remain for some time. However, based on the current trend, the next support level could be $57.

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

The post Zcash (ZEC): Price Analysis, Jan. 13 appeared first on CryptoNewsZ.