<em><strong>The ZEC price action shows a successful post-retest reversal from the $70 mark teasing a potential price jump to the $83 mark.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The ZCash token price action shows a reversal with a morning star pattern.</li>
 	<li>The ZCash market price sustains above the 100-day SMA.</li>
 	<li>With a market cap of $1.16 billion, the intraday trading volume of ZCash has increased by 3.6% to reach $84 million.</li>
</ul>
<h3>Past Performance of ZEC</h3>
The ZCash (ZEC) price action reverses from the $83 resistance level with a streak of higher price rejection candles. The bearish reversal rally retests the bullish breakout of the consultation range below the $70 mark. However, the recent morning star pattern reignites the bull cycle teasing a price jump to the overhead resistance at the $83 mark.

<img src="https://s3.tradingview.com/snapshots/7/7vQA7Tb3.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/7vQA7Tb3/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>ZEC Technical Analysis</h2>
The ZEC price shows a 5.58% growth in the last 48 hours, reflecting a rise in the underlying bullishness. Hence the likelihood of a bull run reaching the $83 mark increases. With a bullish reversal from the 100-day SMA, the bullish influence grows over the 50-day SMA resulting in a positive turnaround.

The daily RSI slope regains bullish momentum to test the 14-day average line in the nearly overbought zone. Moreover, the MACD indicator shows the fast and slow lines struggling to maintain a positive trend due to the lack of a bullish gap.

In a nutshell, the ZEC Technical Analysis projects a high likelihood of a positive trend continuation eating the overhead assistance of $83.
<h2>Upcoming Trend</h2>
The growing bullish influence over the technical chart increases the likelihood of an uptrend continuation to the $83 mark. Furthermore, the bullish breakout of the head resistance can result in a price jump to the psychological mark of $100.

On the contrary, the bearish reversal will retest the bottom support of $70.

Resistance Levels:  $83 and $100

Support Levels: $70 and $60

ZEC Technical Analysis: Reversal Rally Ready To Challenge $83 Sellers

The ZEC technical analysis shows a successful post-retest reversal from the $70 mark teasing a potential price jump to the $83 mark.

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: Reversal Rally Ready To Challenge $83 Sellers

Top Picks