Home / Crypto Currency / 3 Short-Term Profitable ZCash Price Predictions

3 Short-Term Profitable ZCash Price Predictions

When it comes to predicting future cryptocurrency price momentum, the opinions can be very different between traders and speculators. In the case of the ZCash price, it seems a fair few people expect the value to dip later this year, rather than witnessing an uptrend. The following three predictions all seem to have some merit although it is difficult to tell which one – if any – will come true.

#3 Imminent Short to $123 or Lower

The most recent ZCash price momentum took a fair few people by surprise. After the bearish year of 2018, there were no real expectations for ZEC later in the year. As such, this recent push past $125 is pretty interesting to note, albeit ErenErinc is confident this positive spell will not last all that long.

According to this prediction, the ZCash price will most likely fail to break the next resistance level near $128.3. If that is indeed the case, there is a very real chance ZEC will drop down to $123 first. Assuming that level will remain in place, further sideways trading will occur in the weeks to come. It is not the biggest drop-off to contend with, albeit it is still rather interesting regardless.

#2 Short to $110 and Lower

A completely different chart by Muhammetyuksel paints an even more bearish outlook for ZCash right now. He is confident ZCash is stuck in an ascending wedge, and until the resistance level near $130 can be broken, a further dip will happen eventually. At the same time, there is no guarantee the $130 level will not be broken in the next few days.

Assuming this prediction comes true, however, it would appear the ZEC value may continue to trend down toward the $110 level again. This has been a key support level for this altcoin throughout September and early October. A very interesting chart to look at, albeit it will primarily depend on what happens in the next few days, by the look of things.

#1 Long Until $250

As is always the case, the negative expectations surrounding Zcash are mixed in with at least one massively bullish chart. The upcoming resistance level of $130 will apparently be broken with ease, according to Mkouchi3. Once that happens, the floodgates will open for more money to pour into ZCash, effectively elevating the price all the way to $250 or possibly even higher.

Although it remains to be seen if $200 or $250 is even a realistic target, this particular chart shows things could get very interesting moving forward. The ZCash price will undoubtedly remain a topic of conversation for quite some time to come, albeit the exact trend cannot be accurately predicted at this time. Even so, speculators will be waiting for whatever may come their way.

Read more

Check Also

Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.