Zcash Price Prediction for Today, March 23: ZEC/USD Ready to Break Above $40 Resistance
The Zcash price prediction is likely to follow the bullish movement as the coin hovers around the $37 resistance level.
Zcash Prediction Statistics Data:
- Zcash price now – $37.8
- Zcash market cap – $618.1 million
- Zcash circulating supply – 16.3 million
- Zcash total supply – 16.3 million
- Zcash Coinmarketcap ranking – #74
ZEC/USD Market
Key Levels:
Resistance levels: $48, $58, $60
Support levels: $28, $26, $24
Based on the current prediction, ZEC/USD could hit $40 in the next positive step. According to the daily chart, Can we say that the difficult period is over for this crypto as it tries to create a new trend? The Zcash price is currently trading at $37.86, although the coin touches the daily high of $38.39 resistance level after crossing above the 9-day and 21-day moving averages, it could probably retest $35 before it rises again.
Zcash Price Prediction: ZEC/USD May Follow the Upward Movement
At the time of writing, the Zcash price is beginning to follow an upward movement. A break above the $40 level could encourage more buyers to increase their entries, which could push the price to the resistance levels of $48, $50, and $52. On the downside, once the price breaks below the lower boundary of the channel, the sell-off could gain traction with the next focus below $32, followed by the psychological $30 support.
Moreover, if the above mentioned-supports are broken, the downside pressure may increase while the next supports may be created at around $28, $26, and $24. The technical indicator Relative Strength Index (14) is moving to cross above the 50-level, indicating bullish signals.
When compares with Bitcoin, the Zcash price is likely to cross above the 9-day and 21-day moving averages. Meanwhile, a daily close above the resistance level of 1500 SAT could encourage the bulls to extend the rally towards 1650 SAT and above. In other words, a close below the lower boundary of the channel could reverse the Zcash price direction towards the daily support at 1200 SAT.
However, any further bearish movement could take the coin to the support of 1000 SAT and below. Meanwhile, there is a possibility that ZEC/USD may continue the bullish trend as the technical indicator Relative Strength Index (14) is moving to cross above the 30-level with the signal line facing up to indicate bullish movement.
Alternatives to Zcash
The Zcash (ZEC) looks green today as the price hovers above the resistance level of $38 and a daily close above this level may increase the market price to $40. Traders should note that a consistent price increase may bring more buyers into the market as bulls increase their positions. Meanwhile, the Love Hate Inu platform ensures top-level security and transparency, making it an attractive option for investors looking to capitalize on the meme coin trend. Therefore, the presale is still ongoing and almost $2m has been raised.
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