From a technical perspective, the ZEC/USD chart indicates a positive outlook for this coin, as the price has managed to reclaim an important resistance zone at the $180 mark, suggesting high potential for ZEC coin price.
Key technical points to consider:
The 20 EMA line is providing strong support to the ZEC price
The ZEC coins daily RSI chart displays a bearish divergence
The intraday trading volume in the ZEC coin is $864.3 Million, indicating an 18% hike
Source- ZEC/USD chart by Tradingview
Since the sudden fall on May ‘21 in the crypto market, the ZEC coin price had never passed the $180 mark. The coin price tested this resistance level multiple times only to face strong rejection from it.
However, on November 9th, the ZEC price finally provided a proper breakout from this level with a solid green candle and sufficient support from the volume activity, offering the crypto traders an excellent long opportunity in this coin.
The crucial EMAs(20, 50, 100, and 200) indicate a
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