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Zcash Price Prediction 2021 – Will ZEC Hit $910 Soon?

Should you buy Zcash in June 2021?
Zcash Price Prediction 2021 - Will ZEC Hit $910 Soon?
  • Bullish ZEC price prediction ranges from $170 to 910.
  • The ZEC price might also reach $910 soon.
  • ZEC bearish market price prediction for 2021 is $101.

In Zcash (ZEC) price prediction 2021, we use statistics, price patterns, RSI, and much other information about ZEC to analyze the future movement of the cryptocurrency.

Zcash (ZEC) is a Bitcoin Core hard fork that launched in October 2016. It is a cryptocurrency that uses cryptography to provide its users with greater privacy than other cryptocurrencies such as Bitcoin. Zcash is built on the Bitcoin codebase.

Zcash is an open-source protocol, the Zcash Company has no control over any aspect of the cryptocurrency other than providing updates to the software underlying the Blockchain. This contributes to Zcash being truly decentralized.

According to CoinGecko, the Zcash price is trading at $136.49 with a 24-hour trading volume of $350,282,769 at the time of writing. However, ZEC has increased by 7.04% in the last 24 hours.

Moreover, ZEC has a circulating supply of 11,995,063 ZEC. Currently, ZEC trades in cryptocurrency exchanges such as Binance, Huobi Global, OKEx, ZG.com, and CoinTiger.

Zcash (ZEC) Price Prediction 2021

Zcash (ZEC) holds the 68th position on CoinGecko right now. ZEC price prediction 2021 explained below in three time frames.

Monthly Time Frame

The monthly time frame chart of Zcash(ZEC) is shown below.

ZEC/USDT Price Chart Monthly Time Frame
ZEC/USDT Price Chart Monthly Time Frame (Source: TradingView)

Normally, monthly charts indicate a series of data values where each data point consists of the price movement for a single month of trading. Moreover, this chart type has been used for a long time by traders, however, applicable for long-term trading.

Now let’s look at the support and resistance level using other time frames.

Weekly Time Frame

The weekly time frame chart of the pattern of Zcash (ZEC) is shown below.

ZEC/USDT Price Chart Weekly Time Frame
ZEC/USDT Price Chart Weekly Time Frame (Source: TradingView)

More so, the weekly charts are the best time frame to represent the long term trends. On a weekly chart, each bar indicates one week of price or volume history. More so, this means that weekly charts could offer a longer view of a crypto’s price history.

Daily Time Frame

The daily time frame chart of the pattern of Zcash (ZEC) is shown below.

ZEC/USDT Price Chart Daily Time Frame
ZEC/USDT Price Chart Daily Time Frame (Source: TradingView)

The daily timeframe or daily bars indicates that the chart is set up in a way each bar indicates the trading activity for one whole day. From all the three time frames, it is clear the following are the resistance and support level of ZEC.

  • Resistance Level 1 – $170
  • Resistance Level 2 – $288
  • Resistance Level 3 – $410
  • Resistance Level 4 – $910
  • Support Level 1 – $101
  • Support Level 2 – $47
  • Support Level 3 – $22.50

All-in-all, from the charts above it is clear that ZEC’s bullish trend continues and it is possible to reach great heights. Moreover, the charts show that ZEC has performed a bullish trend over the past month. If this trend continues, ZEC might run along with the bulls overtaking its resistance level at $910.

Conversely, if the investors turn against the crypto, the price of ZEC might plummet to almost $44.97, a bearish signal.

Zcash (ZEC) Relative Strength Index (RSI), and Relative Volume (RVOL)

Now let’s look at the relative strength index (RSI) of ZEC. As shown in the chart below, the RSI remains at level 43.2. This shows that ZEC’s price is nearly oversold. Thus, there is a chance for major reversal in the price so traders need to trade carefully. From mid-May to till now, the RVOL stays below the cut-off line which indicates the Lower RVOL.

ZEC/USDT RSI and RVOL
ZEC/USDT RSI and RVOL (Source: TradingView)

From the starting of 2021, it is very obvious that the ZEC price has seen many bullish trends. Furthermore, considering all these into account, ZEC could have a competitive market in 2021.

Conclusion

The ZEC is one of the cryptos that keeps its ground against the bearish market. Furthermore, our ZEC price prediction 2021 is bullish. However, this will only happen if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the ZEC ecosystem, it could experience a great future ahead in 2021. It may reach $410 soon and it might even reach high heights, however, reaching $910, if investors have planned that ZEC is a good investment in 2021.

View Reddit by ShondraRiemannView Source

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