The Zcash (ZEC) cryptocurrency shows signs of recovery as its price increased by 12% in one week.
The price of Zcash (ZEC) rose by 38%, trading at $38.47, ready for a bullish breakout above the resistance level of $40.00.
Technical indicators (Relative Strength Index (RSI) at 62.07, bullish MACD crossover) indicate strong buying momentum for ZEC.
The price of Zcash (ZEC) shows signs of recovery, having bounced from the $28.00 level and rising by 38% since then. The ZEC price has broken above the 50-day exponential moving average and is on the verge of breaking above the 200-day exponential moving average, indicating an upward trend.
Price movement suggests that the ZEC price is poised for a significant upward trend, with the potential for an increase during trading sessions. Buyers are working hard to maintain these levels, showing their confidence in the bullish direction of Zcash.
The digital currency Zcash indicates increased buyer activity in the market. However, there still remains a significant barrier at the $40.00 level to initiate a new upward wave.
According to CMC data, at the time of publication, the digital currency Zcash is trading at $38.47, with a daily increase of 3.66%, showing clear optimism. Its trading volume is $71.47 million, and its market capitalization is $609.94 million.