<strong><em>ZEC price shows a bullish reversal rally challenging the overhead resistance trendline. Will the increasing demand result in a breakout rally?</em></strong>

<strong>Key technical points:</strong>
<ul>
 	<li>The ZEC market price has appreciated 5.02% over the past 24 hours.</li>
 	<li>The price action shows a high likelihood of a trendline breakout.</li>
 	<li>The 24-hour trading volume of Zcash is $90.07 Million, indicating a hike of 2.31%.</li>
</ul>
<h2>Past Performance of ZEC</h2>
The <a href="https://www.cryptoknowmics.com/news/zec-technical-analysis-bullish-reversal-awaits-the-100-breakout/">ZEC</a> price chart showcases a downtrend under the influence of a resistance trendline leading to a 72% fall to the $58 mark. The crucial support level pushes the price higher back as the trading volume increases leading to a price jump to $70. The reversal inflates the market value by 22% after a bullish spike on the 19th of June resulting in a jump to the resistance trendline.

<img src="https://s3.tradingview.com/snapshots/b/biWRoyYO.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/biWRoyYO/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">ZEC Technical Analysis </span></h2>
ZEC price action bullish candle formation with no significant higher price rejection teasing a potential breakout rally. Hence, traders can find a bullish entry spot if the daily candle closes above the resistance trendline. The DMI indicator shows a high possibility of a bullish crossover in the DI lines as the bearish spread decreases. Moreover, the ADX line represents a weakness in the bearish trend adding points to the trend reversal possibility.

The RSI indicator shows a bullish trend surpassing the 14-day SMA (yellow) and the halfway line. Hence, the indicator displays a surge in the underlying bullishness teasing a price jump to $100. The MACD and signal lines regain the positive alignment, ready to surpass the zero line while undermining the bearish crossovers. Hence, the indicator shows a resurgence in the buying pressure. In a nutshell, the ZEC price action forecasts a breakout rally reaching the $100 mark.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
So if the buying pressure drives the ZEC prices above the resistance trendline, the market value will skyrocket to the $100 mark.

<strong>Resistance Levels:</strong> $80 and $100

<strong>Support Levels:</strong> $60 and $50

ZEC Technical Analysis: Will ZCash Prices Sustain Above Trendline?

ZEC Technical Analysis shows a bullish reversal rally challenging the overhead resistance trendline. Will the increasing demand result in a breakout rally?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ZEC Technical Analysis: Will ZCash Prices Sustain Above Trendline?

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