Zcash (ZEC/USD) Price Analysis: Currently 37.6, Marks 38.7 Resistance

Summary

The MACD line is above the signal line, which is a bullish sign. The 12 day EMA is above the 26 day EMA, which is a bullish sign. Resistance 1: 38.7, Resistance 2: 39.1, Resistance 3: 39.9, Support 1: 37.2, Support 2: 36.8, Support 3: 36.1.
[coinmc type=”chart” coin=”ZEC”]

Pivots

Zcash is currently below yesterday’s pivot of 38. Prices could therefore drop down to the first and second support levels at 37.2 36.8.

MACD

As a bullish sign, the MACD went above the signal line. Gains for buyers are likely to continue. In strong uptrends, however, signal line cross overs are common and should be met with skepticism.

RSI

RSI is flat at 50. As a neutral reading, prices are likely to continue their current trend. If the RSI falls below 50, this could indicate a downward momentum.
The RSI is a popular momentum oscillator that moves between 0 and 100. The RSI indicates overbought and oversold conditions with readings above 70 for overbought and below 30 for oversold.

ATR

Used for measuring volatility, the Average True Range (ATR) is another popular indicator. Through using the ATR, the importance of different price movements can be quantified. A breakout or trendline violation can be confirmed with a high reading on the ATR.

Prediction

Tomorrow’s high and low can be calculated using the current period’s high and low. Tomorrow’s expected high is 38.3 with a low of 36.3.