Zcash Tech Analysis

Forecasting the correct, or at least close enough, price movements of Zcash (ZEC) could ultimately make investors or traders more successful in their investments.

Understanding the technical analysis will help you take advantage of the ever-increasing ZEC value, as well as keep you updated on the current state of the market. The reasons behind the price movements are also easier to understand if you have sufficient tech knowledge.

So, let’s take a closer look!

Definition and Brief Talk on Zcash

Technical Analysis and Crypto

ZEC Technical Analysis

How To Buy Zcash With the Godex Service

Final Chord

Definition and Brief Talk on Zcash

What Is ZEC?

Zcash is yet another privacy-enhanced coin that keeps investors’ transactions private.

Benefits of Zcash

  • Privacy: One of the reasons users exchange, for example 1 BTC to ZEC, is  because Zcash ensures its investors’ privacy.
  • Fungible: The fact that Zcash, a privacy coin, could easily be converted to other cryptocurrencies is another reason the coin increases in market volume weekly.
  • Scarcity: Due to its limited production (mining), ZEC remains a scarce crypto commodity, which increases demand and price.
  • Scalability: The scalability of Zcash ensures there’s an increasing worth on your ZEC investment.
  • Security: Cryptocurrency investors are always interested in ZEC because of the coordinated security the coin offers.

Technical Analysis and Crypto

Definition of Technical Analysis

This is what helps users to keep a watch on their investments and follow ZEC’s or other coins’ movement trends.

The three Main Tenets of Cryptocurrency Technical Analysis

  • History always repeats itself, which enables us to follow its trails.
  • The crypto market tends to discount everything.
  • Prices always move in trends.

Auxiliary Indicators

  • Average Directional Index (ADI): With the ADI indicator, you can measure the strength of the trend on your ZEC chart.
  • Bollinger Bands: The Bollinger Bands technical indicators are used to measure the level of volatility in the Zcash market. They often help potential traders to prevent “overbought” or “oversold” trades.
  • Relative Strength Index (RSI): The RSI indicator is used to analyze the current and historical strength of the ZEC market.
  • Standard Deviation: To better utilize the current 1-BTC-to-ZEC market price, traders use the standard deviation indicator to determine how far apart these prices are from the average price.

ZEC Technical Analysis

The Price History of Zcash

Paying attention to the price history of ZEC helps you to get clarity on what direction the market trends will take next.

How High Can ZEC Go?

There’s truly no limit to how high any cryptocurrency could go. However, due to the increasing market volume of ZEC, a steady increase in its price is envisaged.

Zcash Price Prediction

The ZEC price is expected to successfully hit $370-$375 over the next few months.

Latest ZEC Analysis Mar 01, 2021, by Elliott Wave

The chart readings from this day showed a large, standard zig-zag movement following the bearish trade from January to February.

How To Buy Zcash With the Godex Service

  • Select your preferred currency type,
  • Input your wallet address correctly,
  • Wait a few minutes for the deposit, and
  • Exchange your coin!

Final Chord

With a technical analysis of the  ZEC market, you can prepare yourself for profitable trades and exploit a similar template for other coins.

While this knowledge is not compulsory, thanks to the availability of robot traders on trusted platforms, there’s no denying that knowing a little tech analysis makes you more informed and trading is therefore easier.

Notably, ZEC coins can be easily bought from services like Godex.