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Zcash Price Prediction for Today, March 23: ZEC/USD Ready to Break Above $40 Resistance

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Zcash Price Prediction for Today, March 23: ZEC/USD Ready to Break Above $40 Resistance
Zcash Price Prediction for Today, March 23: ZEC/USD Ready to Break Above $40 Resistance

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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

Zcash Price Prediction for Today, March 23: ZEC/USD Ready to Break Above $40 Resistance
ZECUSD – Daily Chart

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.

ZECBTC – Daily Chart

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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