Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
ZEC/USD Long-term Trend – Ranging
Distribution territories: $155, $185, $215.
Accumulation territories: $95, $65, $3
In spite of the variant degree of different price rise in the ZEC/USD market last week, the crypto still moved in a ranging mode within the same last week’s range territories. On October 15, the crypto suddenly surged northwards to closely test around the $130 upper range price territory as the 14-day SMA was also breached northward during the trading session on the day.
The market pulled back not too long to begin moving serially by basically featuring lower highs up to the point of touching the upper range again. Price has now been hovering around-d the upper range territory. The 50-day SMA is located over the 14-day SMA. The Stochastic Oscillators have moved up closer towards range 80. They still point north to suggest that lower highs are most likely to keep on featuring in the market.
A bullish market is assumed been gathering up in a stylish manner between the price territories of $130 and a bit below $100. A bearish move may occur while the $130 price territory is eventually and, strongly traded against in a process of a sudden break out of that territory while it's not sustained in the long run.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.