Price Analysis

Zcash Price Prediction: Market Correction Along with the Delisting from BitOmega is Dragging the Altcoin Down

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The whole cryptocurrency market is going through a breakdown phase, and so do Zcash (ZEC). But there is no need to be dis-hearted as the developers of Zcash are focused on resolving the long term crisis and with another bounce back, except for a good return.

Zcash Price Current Statistics: 

Zcash price chart - june 4

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  • Zcash vs. USD was trading at around 82.45 USD.
  • The return on investment of Zcash, at the same time, was 98.08% in negative.
  • Additionally, the Market Cap of the crypto was 546,657,382 USD.
  • The total altcoin coins in circulation were 6,679,469 ZEC.
  • It is ranked currently at 23rd place in the crypto chart, Zcash Vs. Bitcoin was valued around 0.01035114 BTC per coin.

ZEC Coin Comparison:

If you look at the 7-days trading variations, the coin is down by $2.35. However, in 25-days comparison, the Zcash price has shown a lot of growth. On May 10, Zcash (ZEC) was trading around 58.76 USD. If we compare it with today’s price, the altcoin gained $23.69 and is trading with a hike of 42.02%.

Zcash Price Prediction:

Zcash on aimed at providing a privacy-centric digital currency. Although, the market trends are bearish, as per our analysis, there is a high probability of breakthrough toward the upper side once the market correction occurs. The resistance level, which was $90 earlier, has now come down to $85, but the support level is still at 80 USD.

Conclusion:

The breakdown of the crypto space and earlier delisted from the BitOmega are together bringing Zcash down. It also filled investors with a sense of panic. In the current scenario, stay away from short term investment. However, long and medium terms are still bullish.

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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