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ZEC/USD Long-term Trend – Ranging
- Distribution territories: $100, $120, $140
- Accumulation territories: $40, $30, $20
The USD price worth slightly prevailed over the market valuation of ZEC on December 25. Previously, the crypto was in a bullish outlook while it touched a high price point of around $70 on Dec. 24.
The pair has been hovering around $60 mark and along with the 14-day SMA’s trend-line. The 50-day SMA is separated by a small gap over the 14-day SMA that has been a bit bent northward. That indicates that the crypto is striving hard in its recovery bid against the US dollar market. The Stochastic Oscillators have closed a bit above range 40 to seemingly start a consolidation movement around it. That is an indication that trading activities may be suspended for a while.
There is a tendency that this crypto-market may still need to feature lower lows and lower highs around $60 and $40 market territories in the next trading sessions. It is also expected of the bulls to muster up their needful strength during the presumed assumption to stage a come-back.
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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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.