Price Analysis

Zcash (ZEC) Price Analysis : Survey on ZCASH’s amplifying market

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Zcash is a cryptocurrency that primarily focuses on using the cryptography to provide enhanced privacy for the users in comparison to its major rivalries like bitcoin. It uses a technology called ZERO-Knowledge cryptography that allows ZCASH to protect the transaction details. This privacy measurement comes as an optional feature for the consumers who wish to conceal the important details. Transactions are audible, but details disclosure is not. When its market boomed, its biggest USP was anonymity. Similar to Bitcoin, ZCASH also has a total fixed supply of 21 million coins and is denoted by ZEC.

ZCash (ZEC) Price Chart

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Zcash is the 22nd largest cryptocurrency in the market, trading at USD 349,421,691 currently, on March 23 at 14:24 UTC for its corresponding 24h volume of $175,188,939. This is based on the circulating supply of 6,156,194 ZEC coins. The market opened with Mcap values trading at 315 million USD at the beginning of January. Unfortunately, the market capsized and had been on a downtrend until February 10, touching its lowest on USD 270,641,086. The current market value is relatively higher compared to its corresponding value on February 10 by 29.11%. There has been a hike in values from the past. The values reached its all-time high on March 20 with a value of USD 370,250,148. Although moderate, the recent values show that the MCap values have been on a steady rise. The 14-day MA also displays an uptrend on comparison with the present-day values. The differences between the values have progressed by 13.56%. This rising value puts the digital currency on a bullish pressure.

The current value of the MCAP/USD pair is 56.76 USD at 14:24 UTC. The analysis on the pair shows that the MCap value and the USD have been running parallel to each other from. This cryptocurrency reached its milestone when it was range bound between February 17 and February 19, as ZCASH bounced from a low of USD 50.92 to a high of USD 57.13 which is 12.20%, a spectacular return within 02 days. Stats show that the MCap/USD pair has taken the lead. The price of BTC overlaps the price of USD resulting in the equivalent values for both the prices. The current value of BTC as on March 23 is 0.01403459 (14:24UTC). Stats estimate the all-time lows and highs of BTC’s price value with the lowest on February 13 with the value of 0.01520886 and a high on March 12 with 0.01259444. The recent value, which is in between the low and high, is spiked from its lowest by 11.43%. The price of USD reached its pinnacle with the MCAP value on March 20 with a value of $60.36, 6.34% higher than the current value.

The 20-day exponential moving average shows the values going uphill from $309,451,727 on March 03 to the current value with a 12.92% increase. The percentages of both the averages are in support of the market growth, giving the bulls an upper hand. The bulls are ruling the cryptocurrency’s market points in favor of the buyers. Hence, it is an investment time for investors to get long term benefits. Traders can also take advantage of this rising market to earn a significant profit from their transactions. Investment from traders will increase the value of the cryptocurrency in the future.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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