Zcash is exhibiting improvement in the price, and the same started around the middle of March and is still intact. The chances of surging around $51 are quite strong. The investment in ZEC is speculated to bring a high return in the future.
Zcash Price Analysis
In October 2019, the price was hovering around $44, and the coin kept floating around the same level till mid-November. Later, there was a slight plunge observed, but the price of Zcash didn’t drop below $33. December 2019, started around $33.94 and remained around the same till the year-end. The substantial improvement started in January 2020.
Since the beginning of the ongoing year, the currency was trading with strong bullish influence. By mid-January, the ZEC price has crossed the $50 price mark, and by the end of January, it was almost near the $70. Then, the coin managed to trade with stability at this high for few days, and during the first fifteen days in February, the currency managed to touch $76.31, but later, it started trading downwards.
Zcash reflected immense fall, and the price dropped to $50 mark. The plunge continued in the next month, and around March 13, the ZEC price fell to $16.70. After hitting this low, the coin started improving at a tremendous pace. And at the time of writing this analysis, the price spotted at $44.02.
Since mid-March, the currency persisted the upside trendline, and as per the current momentum, it may continue to trade with upside momentum in the upcoming days. If Zcash’s price goes above $51, then the chances of breaching the next resistance at $71 would increase.
Since October 2019, the ZEC price has never dropped below $16.And hence, the $13 price mark is creating a strong base for the coin. The RSI is at 59.20, and it tilted upward. As per the technical indicators, The indicators are suggesting that the impending period holds improvement indications. However, as per Zcash Predictions, Zcash is a digital currency with strong privacy features. The short term is still a bit unpredictable. However, the long and medium terms are bullish. Planning to invest in Zcash for the long term might be fruitful.
