ZCash / Dollar Cryptocurrency Forecast
Red day on Monday for ZCash / Dollar
(Updated on Apr 29, 2024)
The ZCash / Dollar cryptocurrency price fell by -3.55% on the last day (Monday, 29th Apr 2024) from $23.12 to $22.30. During the last trading day the cryptocurrency fluctuated 4.20% from a day low at $21.83 to a day high of $22.75. The price has fallen in 7 of the last 10 days and is down by -0.71% for this period. Volume has increased on the last day by 46 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 48 million shares were bought and sold for approximately $1.07 billion.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.58 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 4.15% during the next 3 months and, with a 90% probability hold a price between $21.44 and $36.73 at the end of this 3-month period.
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ZECUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Saturday, April 13, 2024, and so far it has risen 9.68%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The ZCash / Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.41 and $25.59. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for ZCash / Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $21.10 and $20.33. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, ZCash / Dollar finds support just below today's level at $21.10. If this is broken, then the next support from accumulated volume will be at $20.33 and $19.28.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.92 between high and low, or 4.20%. For the last week, the cryptocurrency has had daily average volatility of 5.42%.
Our recommended stop-loss: $21.39 (-4.07%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (ZECUSD) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect ZCash / Dollar to open at $22.29, and during the day (based on 14 day Average True Range), to move between $20.40 and $24.20, which gives a possible trading interval of +/-$1.90 (+/-8.52%) up or down from last closing price. If ZCash / Dollar takes out the full calculated possible swing range there will be an estimated 17.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.10 (5.38%) than the resistance at $25.59 (14.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ZCash / Dollar cryptocurrency A Buy?
ZCash / Dollar holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.621 Hold/Accumulate Unchanged
Predicted Opening Price for ZCash / Dollar of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $22.29 ( 0.0344%) | $22.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZECUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.21 | 4.08 % | |
| R2 | 22.86 | 2.51 % | ||
| R1 | 22.64 | 1.54 % | ||
| Current price: | 22.30 | |||
| Support | S1 | 21.94 | -1.61 % | |
| S2 | 21.73 | -2.58 % | ||
| S3 | 21.38 | -4.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.84 | 24.84 % | |
| R2 | 26.74 | 19.91 % | ||
| R1 | 25.59 | 14.75 % | ||
| Current price | 22.30 | |||
| Support | S1 | 21.10 | -5.38% | |
| S2 | 20.33 | -8.83% | ||
| S3 | 19.28 | -13.54% |
FAQ
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