- The journey to the north may be sustained with strong bullish pressure.
- $100.00 in the supply is the bulls first target in the long-term.
ZEC/USD Long-term Trend: Bullish
Supply zone: $120.00, $140.00, $160. 00
Demand zone: $50.00, $40.00, $30.00
The long-term outlook of ZCASH is uptrend. The bullish spinning top on 23rd May formed after bearish exhaustion at $67.74 in the demand area signaled the bulls returned. The cryptocurrency was up at $89.23 in the supply area with a large engulfing candle on 23rd May.
The week ended on a bullish note after price rose to $97.95 in the supply area due to increased bullish momentum. The cryptocurrency was at this supply area on 29th November 2018, almost six months ago.
Price is above the two EMAs and the stochastic oscillator is up at 62%. These suggest strong bullish momentum to the upside.
A breakout at $100.00 in the supply area and a subsequent retest may occur in the long-term
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