Zcash (ZEC) Price Eyes Next Rally as 21Shares Launches New European ETP
Zcash (ZEC) continues to show bullish signs on larger time frames despite warning signals for a potential pullback, according to crypto analyst Jesse Oslen.
The ZEC price broke out above major moving averages after consolidating between $390 and $530 in the summer, with a sharp increase in late August that pushed it above its short- and long-term moving averages before reaching $1,635.01, a 11.16% gain during the latest session.
The daily moving averages indicate solid bull strength, with the 20 EMA still well above the 50, 100, and 200 EMAs, resulting in a positive structure in trend indicators.
The MACD indicator also supports the broader bullish setup, with the MACD line near $189.87 compared to a signal line around $164.28, while the histogram remains positive and continues expanding.