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Bullish reversal at the $32 Level envisaged
Zcash Price Analysis – 18 November
In case the support level of $36 holds, buyers may push the price to face the $41 psychological resistance level and it may increase to the potential resistance levels at $47, and $49. An increase in the sellers’ pressure may push ZEC below the support level at $36, which may decrease further to $32, and $27
Key Levels:
Resistance levels: $41, $47, $49
Support levels: $36, $32, $27
ZECUSD Long-term Trend: Bearish
Zcash is bearish in the daily chart. Sellers have been dominating the Zcash market since August. The price is gradually reducing with the price action making “Lower Highs” and “Lower Lows” signals; it is a bearish trend structure. The bearish movement pushes the price to the $49 level and experiences a ranging movement for some days within the $53 and $49 levels. On November 08, Sellers increased their momentum and the coin decreased to the $32 support level. It is currently pulling back.
The price is trading below the 9 periods EMA and 21 periods EMA. On the daily chart, ZEC/USD remains under the control of the sellers, In case the support level of $36 holds, buyers may push the price to face the $41 psychological resistance level and it may increase to the potential resistance levels at $47, and $49. An increase in the sellers’ pressure may push the price below the support level at $36, which may decrease further to $32, and $27.
ZECUSD Medium-term Trend: Bearish
On the 4-hour chart, Zcash is bearish. During the period of price consolidation which took place many days ago within $53 and $49 levels, bears gathered more momentum. Sellers pushed the price to break down the support level of $49. Zcash decreases with strong momentum from the sellers toward the support level of $32.
The two EMAs are interlocked and the price is hovering over the two EMAs indicating consolidation movement.
Daily, buyers are increasing rapidly, investing in the Impact Token presale. Within several weeks, it has realized nearly $12.5 million in the ongoing presale.
Dash 2 Trade (D2T) presale has acquired $6.5 million at the moment. Also, the CZ of Binance declared an industry recovery plan for crypto projects; this is an excellent time to invest in D2T tokens.
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