Add as a preferred source on GoogleZcash Needs a Daily Close Above $1,277.62 to Strengthen Recovery
An Oct. 16 snapshot placed ZEC at $1,234.17; daily momentum readings were mixed, with RSI below 50 and a narrowing negative MACD histogram.
Zcash (ZEC) traded below its $1,277.62 20-day exponential moving average (EMA) in an Oct. 16 price snapshot. A daily close above that level would strengthen the recovery case. The snapshot was not identified as a daily close.
The chart setup marks $1,189.44 at the 50-day EMA. Below it, the next reference levels are a daily pivot at $1,183.48 and support at $1,112.92. Above $1,277.62, it lists $1,291.97 as the next chart reference.
Daily momentum readings were mixed. The relative strength index was 46.7, below 50, while the moving average convergence divergence histogram remained negative but was narrowing. The 20-day EMA remained above the 50-day EMA, which remained above the 200-day EMA.
Zcash support near $1,180 was a key level during an October correction. The next technical level for the recovery case is a daily close above $1,277.62.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.