ZEC Analysis
| Overall Performance | |||||
| 24-hr | 7-Day | 30-Day | 24h High | 24h Low | 24h Vol. |
| -3.10% | -29.80% | -21.77% | 482.200 | 422.710 | 234.24 mn |
Hourly Performance — UTC (last 6 hours)
| 20h | 21h | 22h | 23h | 00h | 01h ◀ |
|---|---|---|---|---|---|
| +0.14% | -1.12% | -3.90% | +1.76% | +1.29% | -0.21% |
What happened lately
In the past 24 hours, the price of Zcash (ZEC) has experienced a decline of 3.10%, bringing its value down to $435.190. This recent movement falls within a 24-hour trading range of $422.710 to $482.200. The trading volume for ZEC over the same period reached 234,240,176 USDT, indicating active market participation.
Over the past week, ZEC has seen a significant decrease of 29.80%, highlighting a broader downward trend. This decline is further emphasized by a 21.77% drop over the past 30 days. The recent price action has brought ZEC further away from its recent peak of $690.000, marking a 9.52% decrease from that high.
The current price movement suggests that ZEC is facing downward pressure, testing key support levels within its recent trading range. For traders, this decline may signal caution, as the cryptocurrency continues to experience volatility. The significant drop over the past week and month may prompt traders to reassess their positions and strategies in light of the current market conditions.
What can we expect from ZEC today?
ZEC is currently trading at $435.190, reflecting a 3.10% decrease over the past 24 hours. The daily pivot point is set at $444.977, which will be a key level to watch as the day progresses.
📈 Bull Scenario If ZEC manages to break above the daily pivot of $444.977, it could target the first resistance level at $467.243. A successful breach of this level might pave the way for a move towards the second resistance at $504.467, indicating a potential bullish trend. | 📉 Bear Scenario On the downside, if ZEC fails to hold above the daily pivot, it may test the first support level at $407.753. A drop below this support could lead to further declines, with the next target being the second support level at $385.487, suggesting a bearish outlook. |
Key levels to watch out:
| R3 | 526.733 |
| R2 | 504.467 |
| R1 | 467.243 |
| Daily Pivot | 444.977 |
| S1 | 407.753 |
| S2 | 385.487 |
| S3 | 348.263 |
About ZEC
ZEC, also known as Zcash, is a privacy-focused cryptocurrency that was launched in 2016. It operates on its own blockchain and is designed to provide enhanced privacy and security features. Zcash utilizes advanced cryptographic techniques, specifically zero-knowledge proofs called zk-SNARKs, which enable transactions to be verified without revealing any sensitive information about the sender, receiver, or transaction amount. This makes ZEC a popular choice for users who prioritize confidentiality and anonymity in their financial transactions.
The Zcash blockchain supports both transparent and shielded transactions, allowing users to choose the level of privacy they desire. ZEC has gained significant market significance as it addresses privacy concerns that are often associated with other cryptocurrencies like Bitcoin. It is widely traded on major exchanges and has a strong community of developers and supporters. Zcash’s unique approach to privacy and its commitment to ongoing technological advancements make it a noteworthy player in the cryptocurrency market.