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Price Analysis

Zcash Price Analysis: ZEC Experiences Marginal Downfall But Expected To Continue Its Bullish Trend

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Zcash’s first annual conference, ZCON1, has wrapped up a high note. Interestingly, the ZCON1 team made a live connection with Monero Conference 2019, which was happening in Colorado, and that led to a fascinating conversation regarding the cross border digital asset regulations and transient custody.

Zcash to USD Price Current Statistics:

Zcash Price Chart - 24 June
Zcash Price Chart
  • On June 24, at UTC 09:36, Zcash vs. USD was trading around 108.60 USD.
  • At the same time, the market cap of the ZEC was 738,696,403 USD.
  • Along with that, there were a total of 6,822,819 ZEC coins were in circulation.
  • With a Return of Investment of 97.48% (in the negative), Zcash is ranked at 23rd place in the crypto chart.
  • Additionally, ZEC vs. Bitcoin was valued around 0.00999205 BTC.
  • Currently, the 24-hr trading volume in Zcash (ZEC) was 431,149,378 USD.

ZEC to USD Price Comparison:

Let’s compare the price of Zcash (ZEC) from its 25-day’s back value. In that context, on May 31, Zcash (ZEC) was trading at 89.45 USD, however, from there, the coin has grown by a thumping amount and today, it is trading with a hike of almost 21.4%. But, in the weekly trading chart, the crypto has gone down by 2.15%, from the market price of 108.88 USD on June 18. Similarly, in the previous day trading, Zcash (ZEC) had declined by 2.91 USD. Yesterday, the coin opened at 112.64 USD, however, wrapped the day up at 109.73 USD, with a dip of 2.58%.

Zcash Price Prediction:

Although there has been a little bit of strengthening in Zcash (ZEC) in the last two days. However, the coin, today, is trading below the baseline. Nevertheless, as of now, we will stick to our long-term prediction of the coin to trade around $150 by the end of the year. Again, for now, the resistance levels for the altcoin are at 117.23 USD, 121.51 USD, and 125.22 USD. If you look at the support levels of the coin, these are at 109.24 USD, 105.52 USD and 101.25 USD. However, Zcash has stooped below the first support level.

Conclusion:

It seems that the first annual conference of the Zcash, Zcon1, had been a fruitful one. As the coin has fallen by a slight amount following the completion of the event. The coin has also gone down by rank in the cryptocurrency chart. As of now, avoid trading in the short term. Nevertheless, the long, as well as medium terms, are bullish.

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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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