2019-1-6 13:58 |
ZEC/USD Long-term Trend – Ranging Distribution territories: $90, $110, $130 Accumulation territories: $40, $30, $20
There have been more largely price ranging movements in the market valuation of ZEC/USD since the beginning of this year than that of the last week of the last year. Taking a keen look at the trending zone of the 14-day SMA, about December 15; the SMA’s trend-line has been found closely around $60 mark until now.
Another important notable market deal is that all the trading activities as far as last year November 14 has been executed underneath the 50-day SMA sell the signal line. The 50-day SMA is located over the 14-day SMA with a very short space between them. The Stochastic Oscillators have crossed at range 20 to continue consolidating around it.
The range zones are depicted by $60 and $40 marks, and a push downwards further could lead the crypto-market to test past the lower range slightly. The market is expeted to rally strongly against the $40 lower range in order to potentially have a decent entry of an upward price movement.
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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