Zcash has been showing signs of recovery after a recent dip, with the price currently trading at $347.74. The chart shows a solid bounce off earlier lows, as the asset attempts to build momentum for a move back toward its monthly highs.
$ZEC is currently facing a resistance zone between $350 – $357 that has previously acted as a ceiling for buyers. This area is the main focus right now because breaking above it would signal a trend shift and open the door for a much larger move up.
If the $325 – $330 support floor holds firm then we might see another attempt to clear that overhead resistance. If the price fails to keep this level then a drop back toward the $310 – $315 liquidity zone is likely to occur.
The overall chart structure looks stronger than it has in recent days, but the asset is still within a large sideways range. Caution is a good idea since the market needs to see more consistent buying volume to confirm that the current recovery has staying power.
ZECUSDT
Тұрақты
579.55
+5.17%