Price Analysis

Zcash Price Analysis: The Ranking Of Altcoin Has Gone Down; Though, Long Term Is Still Bullish

Finmax

The Zcash Foundation released a video tutorial of the zk-SNARK scheme. The tutorial elaborates about the fast verification and small proof size of the scheme while maintaining a robust and secure parameter setup process, at the same time.

ZEC Current Statistics (On July 01, at UTC 11:09):

  • Zcash (ZEC to USD) is currently trading at a price of $104.55.
  • At the same time, the market capitalization of the crypto was 715,523,468 USD.
  • There were a total of 6,873,456 ZEC chips were in circulation.
  • With a negative ROI of 97.58%, Zcash is ranked at 23rd place in the cryptocurrency chart.
  • Additionally, ZEC price (BTC) is valued around 0.0953071 BTC per chip.
  • Along with that, the 24-hrs trading volume in ZEC is 417,024,368 USD.

Zcash Chart Comparison:

Zcash price chart - july 1

Finmax BTC

Let’s compare the price of Zcash (ZEC) from its market price on, June 06, i.e. 25-days back. In that context, Zcash to USD was trading at 80.44 USD on June 06. Nevertheless, the altcoin has shown a significant strengthening from there, and today, it is trading with a bounce-back of 29.97%. In a similar way, in a week of trading, the altcoin has shown almost flat variations and made a slight breakdown of 2.86%, when compared to the trading price of 107.7 USD on June 25. Similarly, yesterday was also a foul trading day for ZEC, where the coin opened at 114.14 USD and with a significant dip of 9.89%, it wrapped the day up at 102.85 USD.

Zcash Price Prediction:

Today, Zcash (ZEC), at the time of writing, bounced back in the bullish zone. As per our prediction, the altcoin will most probably be trading around $150 by the end of the year. At present, the immediate resistance for the altcoin is at 110.71 USD. Additionally, the immediate support level for the altcoin is at 98.84 USD.

Conclusion:

At present, there seems to be a negative sentiment in the market, and most of the altcoins are going down. However, unlike most of the cryptos, Zcash has been relatively stable in its degradation. Regarding the future of the altcoin, Zcash is not just a transactional type of altcoin, and people store it. So the future of the crypto is a bright one.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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