$ZEC
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1. Current price reading:
The ZEC currency is currently trading at levels of $215.73**, achieving an increase of **1.63%+** over the last few hours. We observe strong buying momentum that pushed the price from the support area at **$214.00 to a temporary peak at $216.40.
2. Technical analysis (indicators):
* Moving averages (MA): The price is currently trading above the fast moving averages (MA7 and MA25), which gives a positive signal in the short term (minute frame).
* Trading volume (Volume): A huge buying liquidity column (Volume Spike) appeared coinciding with the recent price explosion, which confirms the strength of the current upward movement.
* MACD indicator: A positive crossover is shown below, supporting the continuation of the upward momentum as long as the price does not break the nearby support levels.
3. Levels to watch:
* Next resistance: Breaking the level of **$216.40** and holding above it may open the door for further rises towards the $220 areas.
* Nearby support: The level of $214.50 is considered an important area to maintain the current upward trend.
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💡 Advice for traders:
The market is experiencing high volatility; always ensure to activate the "Stop Loss" order and manage your capital wisely.
#Zcash #ZEC #Binance #Crypto
