Zcash Price Analysis: 21 October
Zcash [ZEC]
Source: ZEC/USD on TradingView
For Zcash a break below its current support level at $60.163 may potentially cause the cryptocurrency to fall back into its recent sell-off, which wiped off almost 8% of the price value for ZEC in the last 48 hours.
However, a price recovery for the digital asset seemed to be around the corner. Chaikin Money Flow indicator rose above the zero level, indicating that capital inflows were higher than outflows, a sign of buying pressure.
Relative Strength Index, also witnessed a rise in its levels, just above the neutral zone at 55. A bullish revival could soon be validated if ZEC bulls manage to keep prices above a crucial pivot level at $61.90 level for the next few days.
Learn more about the analysis
here.