Zcash (ZECUSD) Remains Positive at $249.00 Price Level

Zcash (ZECUSD) Price Forecast: October 21

The ZECUSD pair demonstrates strong market momentum and remains positive at the $249.00 price level today due to the high optimism of the investors in the crypto. The coin is making positive moves and looks good for a long position at the current price level. Conversely, if the coin prices could sustain above the previous high of 293.15, the bulls’ trend would continue upward and might hit the $298.00 upper high level, attracting the newest buyers.

Key Levels:
Resistance Levels: $248.00, $249.00, $250.00
Support Levels:     $126.00, $125.00, $124.00

ZEC (USD) Long-term Trend: Bullish (Daily Chart)

The daily time frame of Zcash reveals its buying time is now, as the pair remains positive with bullish sentiment.
The price is strongly trading in a bullish momentum, looking attractive for long traders, signifying a buy trade.

The cryptocurrency price has been above the supply trend levels since its most recent high due to the persistent bullish pressure over the last few days.

Today, the ZECUSD price is rising again on the daily chart with a bullish candle at a $249.00 high mark above the EMA-50, as the bulls brace up for a major uptrend.

However, an additional effort by the bulls to a $293.15 previous high would invalidate any further bearish thesis.

Next, the underlying sentiment suggests an uptrend continuation in the coming days as indicated by the daily stochastic.

Given this, the bullish correction phase may extend to meet the resistance at the $298.00 upper trend line, reflecting promising growth.

ZEC (USD) Medium-term Trend: Bullish (4H Chart)

The medium-term prognosis shows a lovely bullish continuation pattern as the ZECUSD pair rises towards the upper channel and stays steady above the supply level, suggesting a bullish trend.
The bullishness in its recent high has been aided by the bulls’ strong order flow at the $240.00 high value in the previous trading session.

On today’s 4-hourly chart, the Zcash price is rising again, indicating a wider coin market rebound. As the bulls grabbed control of the market, the cryptocurrency price surged to a supply level of $245.22 above the moving average.

Amid market volatility, if the crypto’s price could sustain above the $293.15 high level, the potential rally could surge toward the upper resistance level, offering a good entry point for coin buyers.

In a like manner, the momentum indicator pointing up also indicates that the ZECUSD price will remain on an upside and a $298.00 upper high level might be the target in the days ahead in its medium-term perspective.

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