- 38% jump for Zcash, currently trading at $692.
- ZEC’s daily trading volume is up by over 99%.
The back-to-back bearish waves in the crypto market have brought today mixed signals. It has resulted in losing momentum, with the majority of the assets trapped in the red zone, unable to escape the loop. Notably, the overall sentiment has shifted to extreme fear, with the Fear and Greed Index value settled at 16. Meanwhile, Zcash (ZEC) has recorded a steady surge of over 38.46%.
The asset has opened the day trading at a bottom level of $505.06. With the potential bullish shift in the market, the price has mounted toward $723.73. Upon the active uptrend gaining more traction, the bulls could carry the price upward to new highs. At the time of writing, Zcash trades within the $692.79 mark
ZEC’s market cap is resting at $11.26 billion, with the daily trading volume exploding by over 99.89%, reaching the $3.1 billion range. It is worth noting the data reported by the Coinglass, that the market has experienced a liquidation of $38.19 million worth of Zcash during the last 24 hours
ZEC on the Rise: Is Another Leg Up Coming?
Zcash’s Moving Average Convergence Divergence (MACD) line has moved above the signal line, which indicates a bullish crossover. It shows a potential upward pressure, likely renewing the bullish trend. In addition, the Chaikin Money Flow (CMF) indicator at 0.27 suggests strong buying pressure in the ZEC market. Notably, the money is flowing into the asset, supporting the current price movement.
*ZEC chart (Source: TradingView)*Moreover, the daily Relative Strength Index (RSI) found at 73.88 signals that the asset is in overbought territory. Notably, the Zcash price may be overextended, and it may face a pullback or correction, unless strong momentum continues. ZEC’s Bull Bear Power (BBP) value of 238.19 implies strong bullish pressure in the market. It is pushing the price higher with strong momentum, hinting at continued strength—as long as buyers maintain control.
The bullish pressure on the Zcash price may push it up and test the resistance range at around $695.64. If the bulls gain enough strength to lead the rally, it triggers the emergence of the golden cross, pushing the price above $698.38. On the flip side, assuming the asset’s reversal, the price could fall instantly toward the support at the $599.57 level. With the bearish correction intensifying, the death cross might form, and take the Zcash price below $596.21.
Top Updated Crypto News
SUI Takes a 10% Hit: Will Sellers Tighten Their Grip and Continue Dominating the Charts?
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
JPMorgan: Bitcoin absorbs Iran war hedge funds, gold ETF experiences significant outflows
JPMorgan report indicates that due to the Iran conflict, Bitcoin outperformed gold and silver, the latter of which experienced significant declines due to rising interest rates and a strong dollar. Gold's high-position holdings were forcibly liquidated under market pressure, leading to capital outflows. Bitcoin remained stable, demonstrating its appeal as a safe-haven asset, especially amid geopolitical tensions. The report also emphasizes that Bitcoin's market liquidity has surpassed gold, indicating an improvement in its structural position.
MarketWhisper32m ago
Why did Bitcoin drop today? Trump extends Iran ceasefire period by 10 days, negotiations face disagreements.
U.S. President Trump extends the ceasefire period with Iran until April 6, but Iranian officials deny the request, leading to continued market pessimism about the prospects of negotiations. As the U.S. 10-year Treasury yield rises to 4.42%, the attractiveness of high-risk assets like Bitcoin diminishes, preventing a rebound and instead continuing to face selling pressure. The market is sensitive to liquidity conditions, and in the short term, attention should be paid to the direction of yields and spot demand.
MarketWhisper36m ago
Today, the cryptocurrency Fear & Greed Index rose to 13, indicating extreme fear in the market.
Gate News reports that on March 27, data from Alternative.me shows that today’s cryptocurrency Fear and Greed Index has risen to 13, indicating the market is in a state of "extreme fear." Yesterday, the index was 10, also in the "extreme fear" zone.
GateNews1h ago
23.91% Plunge for KMD: What It Means for Traders
KMD has seen a significant decline, trading at $0.005324 after dropping 54.20% in 24 hours. Increased market activity and liquidation events in the derivatives market are contributing to the volatility, prompting traders to focus on risk management.
Coinfomania1h ago
MemeCore Price Volatility Explodes After Hardfork and Perp Listing Surge - BTC Hunts
The post MemeCore Price Volatility Explodes After Hardfork and Perp Listing Surge appeared first on Coinpedia Fintech News
MemeCore price just pulled off one of those blink-and-you-miss-it moves. A brutal 65% intraday surge sent the token flying from $1.70 to $2.80 only to slam straight into a
BTCHUNTS1h ago
