The latest developments in the price of ZCash (ZEC) drew attention with the exceeding a significant resistance point of digital asset. In the technical analysis conducted by Coindesk Analyst and Chartered Market Technician Omkar Godbole, evaluations on the range of $ 40-43, which ZCash has long been under pressure above, stands out. According to graphic data, ZEC price, which has been following horizontal cruise since February, declined to $ 25 in various periods, but it found buyers at these levels.
Technical Analysis Findings
According to analysts, the price of the ZCASH left behind the resistance zone in the range of 40-43 dollars and rose to $ 45,80. This level has been recorded as the highest number for ZEC since January 26th. Technical analysis approaches, long -term resistance points in the event of the passing of the movement may continue. Especially frequently tested levels can cause price movements to accelerate in the future.
According to the “MeaSouled Move” method used in the analyzes, the difference between the resistance zone and the support point is added to the output level, the price is expected to reach the level of 60 dollars in the future. Analysts say that such outputs can often lead to sudden and fast price movements.
Behavior of Market Participants
This output in the price of ZEC is considered a movement called ‘Breakout’ and often increases the interest of investor. Some investors may prefer to overcome certain support and resistance points as an opportunity and take positions. In such strategies, it is stated that the price can quickly reach new levels of balance after breaking.
Monero (XMR), which is similar to Zcash, also exited a wider and long -term horizontal movement in the past period. XMR ‘Golden Cross’ called a positive technical signal after a positive technical signal rose to $ 300 recorded. However, it was emphasized that technical indicators and graphic formations did not give the expected result in the past.
Expert Comments and Assets Evaluated Together
“The latest resistance frustration may mean a potentially rapid price increase, but graphic formations may not always work as expected, Om
Market observers follow the protection of the price of over $ 43 for the continuation of the rise signal. Permanently overcome the resistance point may increase the interest of investors to ZCASH. On the other hand, it is stated that technical analysis methods do not bring definite results in the market and some sudden feedbacks are experienced in past examples.
With these developments, ZCASH and similar crypto assets are closely monitored in terms of technical analysis and investor cents. By making comparisons between different digital transportation, the role of technical indicators in the decisions of market players is taken into consideration.
Zcash’s price movements have followed a technical course in recent months. Experts, resistance and support points tests can be decisive in investor preferences, he says. For investors, permanence above the resistance level can be interpreted as a positive signal. However, it is stated that only technical data are not sufficient for reliable analysis and the general conditions in the market should be evaluated.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
