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Zcash Technical Analysis - Long Term Accumulation Phases to Growth

Updated: Jul 25, 2024
Published: Jun 20, 2019
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Launched in 2016, Zcash (ZEC) is a privacy coin, that rarely sees itself at the forefront of the crypto headlines, yet many investors have quietly been appreciating the bullish run it has been on recently. The decentralised, open-source coin specifically enables selective transparency to maintain the integrity of the network.

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ZEC is the 22nd ranked coin by market cap, and the current price of $108 since lows of sub-$50 in early March have already delivered over a 100% gain. With the project developing and a growing community, it still presents a very healthy return on investment back to all times highs, just below $800.

The immediate outlook looks to break the current daily top-end level of $115, with $140 in sight. Considering the strong recent surge, a healthy pullback to the $100 level would not be seen as a negative. Any further downside should see the price supported at around $90.

With the long accumulation from the end of December 2018 to April of 2019, it is no surprise to see that ZEC has seen a very strong incline in price. It would be more of a surprise if this was the end of such a surge, with plenty more room for upside movement present.

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