Price Analysis

Zcash Price Analysis: ZEC Seems To Gain Back The Momentum, Still A Long Way To Cover

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It seems that Zcash (ZEC) is bouncing back to the upper side. Although the market is still bearish, the altcoin is trading in upwards. But it would too much to expect a certain bull run. With that said, Zcash team is focused on long term solutions and development projects, so the coin seems to be following the right track.

Zcash Current Statistics:

Zcash Price Chart - 5 June

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  • As on June 05, at UTC 09:28, the Zcash price was $78.35.
  • At the same time, the ROI in Zcash (ZEC) was 98.18%, but in negative.
  • Currently, ranked at 23rd place in digital currency ranking, Zcash is having a market capitalization of 523,353,118 USD.
  • The total ZEC chips in circulation were 6,686,919.
  • Zcash coin was valued around 0.01009716 BTC per chip.
  • Additionally, the 24-hour trading volume in the altcoin was 452,205,549 USD.

Zcash Price Comparison:

On May 11, 25-days back, Zcash (ZEC) was trading at $63.49; however, today, it is trading with a hike of 23.4%. Nevertheless, in the weekly trading chart, the coin is down by 6.87 USD, as on May 29, ZEC was trading at $85.16. In 7-day trading, the coin is down by 8.07%, though, it is again coming back to the green zone.

Zcash Price Prediction:

Although the cryptocurrency market is gaining back the momentum, it would be too soon to be optimistic regarding the upward movement. Amidst the market correction, short term trends are bearish, as per our analysis. Again, the medium and long terms are bullish. On top of that, the coin is expected to get back to the levels of $85, once the market goes bullish.

Conclusion:

It seems that Zcash (ZEC) can overcome the downward trend occurred because of being delisted from the popular exchange, BitOmega. In that case, it is surely a good cryptocurrency to look out for in the long term.

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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