Zcash $ZEC is currently trading around $703.10, with a 3.4% increase in the last 24 hours. The cryptocurrency has been experiencing volatility, with a 7-day range of $437.28 to $720.44.
*Key Observations:*
- _RSI_ indicates neutral sentiment, approaching oversold levels
- _MACD_ suggests a bearish crossover, signaling weakening upside momentum
- 50-Day SMA is around $544.61, and 200-Day SMA is around $186.70
- Market cap is around $11.25 billion, with a 24-hour trading volume of $3.84 billion
*Possible Scenarios:*
- _Bullish:_ Break above $748 could lead to further gains, targeting $1,010
- _Bearish:_ Drop below $600 support may trigger a sell-off, exposing $ZEC to $527-$530
According to analysts, $ZEC price is influenced by its strong privacy narrative, institutional accumulation, and upcoming upgrades like Zashi Wallet's shielded swap feature. However, investors should exercise caution due to market volatility and regulatory uncertainty.
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