In this Zcash technical analysis, we will examine the current price action, trading volume, key levels and indicators for ZEC-USDT. Zcash is a privacy-focused cryptocurrency that utilizes advanced cryptographic techniques to protect users’ transactions and personal information. It offers selective transparency, allowing users to choose whether to reveal or keep their transaction details private. With its unique features and growing adoption, Zcash is an attractive option for individuals seeking enhanced privacy and security in the digital asset space.
Zcash Price Overview:
As of June 16, 2024, Zcash is trading at approximately 22.6 USDT. Let’s dive into the detailed price action for ZEC-USDT:
| Metric | Value |
|---|---|
| Open (O) | 22.68 |
| High (H) | 23.07 |
| Low (L) | 22.34 |
| Close (C) | 22.6 |
| Volume (C) | 57,227.97 |
- Open (O): The opening price for today’s trading session was approximately 22.68 USDT.
- High (H): Zcash reached a daily high of around 23.07 USDT.
- Low (L): The daily low for ZEC-USDT was approximately 22.34 USDT.
- Close (C): At the time of analysis, Zcash is trading near its daily close of 22.6 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.22% |
| 3D Change (%) | -0.70% |
| 7D Change (%) | -4.80% |
| 30D Change (%) | -4.16% |
| 90D Change (%) | -17.94% |
| YTD Change (%) | -16.05% |
Over the past three days, ZECUSDT has dropped by approximately -0.70%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -4.80%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ZECUSDT maintaining a downward trend of approximately -4.16%, despite intermittent fluctuations. Examining the last 90 days, ZECUSDT has witnessed substantial decline of approximately -17.94%, reflecting strong long-term confidence. Year-to-date, ZECUSDT has steadily dropped by around -16.05%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Zcash Live Chart:
You can access a live price chart for ZEC-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.56463.
- Momentum score is -0.14781.
ZEC USDT Technical Analysis
Zcash Trading Volume:
The trading volume for Zcash (ZEC) over the past 24 hours has been insignificant, with approximately 57,227.97 USDT traded against ZEC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): ZEC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Zcash is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ZEC-USDT is currently in the low zone, around 44.62916. This suggests that Zcash is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Zcash (ZEC-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Navigate Zcash’s (ZECUSDT) potential downturns at 22.60 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.
Don’t overlook our detailed insights on ZEC BTC Zcash Technical Analysis if you found this post captivating; it’s a must-read for further exploration.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.