- ZEC/USD trade now appears to keep its range price movements for a while.
- The downturn of the ZEC/USD market could be determined at the breaking southwards of the 50-day SMA indicator.
ZEC/USD Long-term Trend – Ranging
- Distribution territories: $90, $100, $110
- Accumulation territories: $50, $40, $30
ZEC/USD market has continued to move in a range not different from the last mode it maintained during the last week’s trading sessions. The 14-day SMA’ trend-line has been found along with the range spot at $70 mark.
The 50-day SMA is now located at $60 point which is also regarded as the current lower range spot. Price of the pair is still seen been tightly hovering around the range spot. The Stochastic Oscillators have got to a point near range 40 after experiencing a sluggish drop. They still show a sign of running in a consolidation movement.
Indicators are still backing the continuation of seeing more range price movements in this crypto-trade in the next trading sessions. However, three key trading points have been denoted in the range zones, and they are $80, $70, and $60 marks. The $70 median point needs to be wary of especially while price pushes up or down from it to take a direction out of either of the range ends.
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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