The price of Zcash (ZEC) today is around $350.83, with a 1.93% decrease in the last 24 hours. Several factors influencing ZEC's price include weakening investor sentiment, selling pressure, and regulatory uncertainty following recent changes ¹ ².
*Technical Analysis:*
- ZEC broke through a multi-year descending triangle, confirming a macro technical breakout. - The 7-day RSI indicator reached 80.88, indicating overbought conditions. - The MACD indicator shows weakening momentum with the histogram decreasing from +6.1 to +4.23.
Remember that the crypto market is highly volatile, and prices can change rapidly. Make sure to do your own research and consider professional financial advice before making investment decisions ².
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The price of Zcash (ZEC) today is around $350.83, with a 1.93% decrease in the last 24 hours. Several factors influencing ZEC's price include weakening investor sentiment, selling pressure, and regulatory uncertainty following recent changes ¹ ².
*Technical Analysis:*
- ZEC broke through a multi-year descending triangle, confirming a macro technical breakout.
- The 7-day RSI indicator reached 80.88, indicating overbought conditions.
- The MACD indicator shows weakening momentum with the histogram decreasing from +6.1 to +4.23.
*Price Predictions:*
- Short-term: $320-$350
- Medium-term: $380-$450
- Long-term: $600+
*Factors Affecting Price:*
- Privacy demand
- Market sentiment
- Adoption
- Technology updates
- Regulatory environment
- Mining dynamics
- Competition ¹ ² ³
Remember that the crypto market is highly volatile, and prices can change rapidly. Make sure to do your own research and consider professional financial advice before making investment decisions ².