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ZEC/USD Long-term Trend – Bullish
- Distribution territories: $105, $125, $145
- Accumulation territories: $40, $30, $20
There has been relatively an increase in the market valuation of ZEC/USD over a few days. On November 29, was the day that the crypto witnessed a notable high mark of around $96 before dropping back to around $49 low mark on December 14.
The pair has continued trading around $70 market territory over the 14-day SMA’s trend-line. The 50-day SMA is situated above the 14-day SMA. The Stochastic Oscillators have moved north to seemingly attempt closing below range 80. That could signify that there may soon be a line of consolidation movements in the market soon.
There seems that ZEC market has not been making a very strong valuable move against the US dollar price worth, and that could, later on, result in losing out strength to bears in the market. A foundation appears to have been built around $49 mark, and any attempt by bears to break it southwards may cause bulls once again to suffer more.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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