ZCASH Price Prediction Today: Daily (ZEC) Value Forecast – June 6

Zcash-ZEC-Hashrates-Explode-And-Mining-Profitability-Takes-a-Toll
  • The short and medium-term outlook is in the downtrend.
  • Traders may consider selling at pullback areas with bearish reversal candlesticks.

ZEC/USD Medium-term Trend: Bearish

Supply zones: $90.00, $95.00, $100.00
Demand zones: $50.0000, $40.00, $30.00

ZECUSD is in a bearish trend in the medium-term outlook. The bears were obviously in control after the two EMAs were broken on 3rd June. The cryptocurrency had been on a downtrend with lower low each day.

Despite a bullish 4-hour candle at $80.54 as the market opens today, price drops further low at $76.04 in the demand area due to the sustained bearish momentum.

The signal of the stochastic oscillator points down at 49% and price is below the two EMAs. These suggest the bears may continue to push price down south as more sellers take a new position in the market in the medium-term.

ZEC/USD Short-term Trend: Bearish

The cryptocurrency is in a downtrend in the short-term outlook. Today’s 1-hour opening candle at $90.00 sustained the bullish momentum arising from the railroad that emerges on 4th Junes. ZECUSD rose to $81.41 a key supply area.

The bears gradual retuned was noticed by the break of the two EMAs and the cryptocurrency dropped to $76.24 in the demand area.

The downward price movement remained strong as indicated by the signal of the stochastic oscillator. $75.00 in the demand area is the bears’ initial target in the short-term.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M

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