ZEC Price Consolidates After Testing $110 Level As Bears Dominate -Breaking
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© Ink Drop ZEC Price Consolidates After Testing $110 Level As Bears Dominate- ZCash’s (ZEC) price has fallen 6.42% in the last 24 hours to $119.36.
- ZEC’s price is close to its 24-hour low of $119.24.
- ZEC’s price has entered a consolidation period once it tested the $110 level.
ZCash’s (ZEC) price has fallen 6.42% in the last 24 hours to $119.36, according to CoinMarketCap. ZCash’s price has also fallen in the last 7 days as well, dropping by around 9.02% at the time of writing.
ZEC’s 24 hour low price is $119.24. The ZEC price is currently at $127.57, its 24 hour peak.
ZEC’s price has also weakened against (BTC) and (ETH) by around 4.57% and 3.27% respectively at the time of writing. ZEC currently has a value of 0.003333 BTC, and 0.048484 ETH.
Ranked number 49 on CoinMarketCap’s list of the largest cryptocurrency projects by market cap, ZEC’s market cap currently stands at $1,710,198,473. ZEC’s daily trading volume has fallen by 8.99% in the past day, bringing the 24-hour trading volume down to $199671,623.
CoinMarketCap confirms a short-term bearish period. Source: 8 EMA
ZEC/USDT’s daily chart shows that the 8 EMA crossed below the 20 EMA, which indicates that ZEC’s prices may drop further. As $110 is the next level of support, it’s possible that the price will move higher.
It is possible that ZEC’s $110 level will be its lowest point during flat trading, as ZEC seems to have entered an accumulation phase after reaching $110 nearly a week ago.
It is obvious that the bears control the current market. It doesn’t seem that bears are trying to lower ZEC’s price below $110, as they already have.
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