ZEC/USD Long-term Trend – Ranging Distribution territories: $70, $80, $90 Accumulation territories: $40, $30, $20

ZEC, as paired with the USD, has continued to slightly succumb to the downside of price movements in a range format. Now, the crypto-trade has been hovering around the same low market point obtained between last year’s December 14 and 15.

Since January 28, the pair briefly sank past $50 mark to commence the choppy price movement tightly below it until present. The 14-day SMA is located at the verge of $50 point underneath the 50-day SMA which is located below $60 mark. The Stochastic Oscillators are consolidating in the oversold zone closely to range 20.

While the current market consolidation movement continues to hold strong in the market, price may still relatively goes down further from its current point. Nevertheless, traders are expected to wait for a strong rally of the market to decide probably to join the presumed swing upward movement, especially while its 14-day SMA is breached northwards in the course.

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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