Zcash price analysis indicates that prices are currently able to enter an uptrend in the market. The bears strive to break below the $88.5 support, but they don’t. On the other hand, the bulls are trying to push the price higher but they are facing resistance at $90.5. A break above this level is necessary for prices to enter an uptrend in the market. The market is currently in a consolidation phase and it is likely to remain in this phase for a few more hours before a market trend emerges.

Zcash price analysis indicates that prices have been trading in the range of $88.58 to $90.28 over the past 24 hours. The digital currency had a trading volume of approximately $77,181,765.80 and a market capitalization of $1,299,700,712.90. ZEC is currently ranked 43rd overall and dominates 0.11% of the cryptocurrency market. Zcash is showing a bullish trend in the market, with prices rising just 0.06% in the past 24 hours. The digital currency is currently trading at $89.38 and is likely to enter an uptrend if it breaks above the $90.5 resistance level.

Zcash Price Analysis on a Daily Chart: Resistance at $90.5 Limits Upward Movement

Zec price analysis indicates that ZEC/USD, prices have been consolidating around the $89.56 level over the past few hours. The market is in a consolidation phase as it is neither bearish nor bullish at the moment. The MACD line is above the signal line, indicating a bullish trend in the market. The RSI is currently at the 50 level, indicating that the market is neither overbought nor oversold.

ZEC/USD 1-day price chart, source: TradingView

The moving averages are all trending upwards, indicating a bullish trend in the market. Market volatility is currently high as the Bollinger Bands are starting to widen. The market is likely to see additional buying activity in the coming hours as prices are expected to rally towards the $90.5 resistance level. A break above this level is necessary for prices to enter an uptrend in the market.

Zcash Price Action on 4-Hour Price Chart: Price Consolidates Around $89.56

Zcash price analysis indicates that the bulls pushed the price to break the $90.5 resistance level, but so far they have not been successful. Prices are currently in a consolidation phase around the $89.56 level and are likely to stay in this phase for a few more hours before a market trend is set.

The MACD line is currently above the signal line, indicating a bullish trend in the market. The 50-day moving average is currently at $89.43 and the 200-day moving average is at $87.77, indicating a bullish trend in the market. The RSI is currently at 58.42 indicating that the market is neither overbought nor oversold.

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ZEC/USD 4-hour price chart, source: TradingView

The Bollinger Bands appear to be contracting, indicating low volatility in the market. Prices are likely to rally towards the $90.5 resistance level in the next few hours as the bulls gain strength.

Zcash Price Analysis Conclusion

Zcash price analysis indicates that prices are currently in a state of consolidation around the $89.56 level. The market is likely to see additional buying activity in the coming hours as prices are expected to rally towards the $90.5 resistance level. The bulls have defended the $88.58 support level well and are currently trying to drive prices up towards the $90.5 resistance level. A break above this level is necessary for prices to enter an uptrend in the market.

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