Bitcoin
BTC$41 830.57

-4.04%

Ethereum
ETH$2 900.30

-5.79%

Tether
USDT$1.000560

0.05%

Cardano
ADA$2.12

-4.44%

Binance Coin
BNB$338.82

-2.63%

XRP
XRP$0.927879

-3.26%

ZCash - Gearing Up for New Price Heights


#Zcash

The measures that governments undertake to counteract the COVID-19 pandemic have already arrived at the point where they contradict one of the most basic human rights - the right for privacy. The idea of introduction of mandatory monitoring of citizens’ movement and activities via smartphone under a pretext of containment of coronavirus is reminiscent of the first chapters of Orwell’s “1984”, thus putting people who do cherish their privacy in a situation where they are being forced to look for solutions like ZCash and a number of other coins that provide the much-needed privacy.

It is clear that the governments will use the provided opportunity to the maximum, which creates favorable conditions for ZEC to experience an unprecedented price appreciation due to the increased demand, even though the threat of regulatory constraint is still hanging over this and other privacy coins.

A good month for ZEC


The past 30 days have been very productive for ZCash, and its rivals in the field of privacy: Monero and Dash, as all these coins have made a considerable stride towards the price level from which the notorious Coronavirus Crash began.

ZEC/XMR/DASH comparison chart

Also, traders must take note of a nearly perfect correlation that has occurred between these three markets over the previous month that may suggest an idea of creating the “privacy” trading portfolio that could also provide ample opportunities for hedging in these particular markets.

DASH is obviously the finest performer of the three, but ZEC has also proven to be a go-getter as the 26th cryptocurrency has risen in value by 56.1% against USD and 15.8% against BTC over the said period, which must have worked out marvelously for traders who were bold enough to go long on ZCash in such uncertain times.

1-day ZCash/USDT chart

The daily time frame reveals that ZEC is more inclined to moving diligently between the areas of historical support and resistance, which gives the price action more predictability. Each upside swing has so far been followed by an appropriate retracement of no more than 40% of the initial price movement. This makes the ZCash price prediction much easier since the coin shows little to no proclivity for unexpected maneuvers.

The price has ping-ponged accurately between the resistance at $42 and support and $35 and is now preparing to give that resistance a re-test. However, the next move may not be as smooth as the previous ones because of how choppy the trading volume has been during the last phase, with bears pressing harder and bulls responding with big volume spikes.

That kind of choppiness might signify the inception of underlying shifts in the market, so the second attempt at $42 could end up in failure and price going into the range. But if ZEC does find the strength to breach the said resistance, it could get catapulted straight to the broad area between $48.5 - $51, thus signifying a complete recovery after the Coronavirus Crash ahead of Bitcoin, Ethereum, and the majority of other top cryptocurrencies. The cross on Stochastic suggests the approaching uphill hike, but the accumulation of the bearish volume during the last week negates the possibility of an explosive upward swing.

Author: Alex Paulson for Crypto-Rating.com

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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 74.8% 41 $41 830.57 -4.04% -3.12% $787 608 951 535 $30 956 829 833
2 Ethereum (ETH) ETH Ethereum predictions 73.2% 56 $2 900.30 -5.79% -4.28% $341 387 673 705 $16 948 397 599
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000560 0.05% 0.05% $68 581 448 843 $67 387 184 321
4 Cardano (ADA) ADA Cardano predictions 68% 70 $2.12 -4.44% -3.17% $67 752 619 605 $2 735 590 029
5 Binance Coin (BNB) BNB Binance Coin predictions 68% 59 $338.82 -2.63% -8.65% $56 968 565 730 $1 441 932 933
6 XRP (XRP) XRP XRP predictions 75.6% 50 $0.927879 -3.26% -1.97% $43 348 318 686 $2 723 347 351
7 Solana (SOL) SOL Solana predictions 66% 68 $133.61 -8.48% -4.91% $39 737 184 358 $2 505 852 045
8 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000582 0.07% 0.05% $31 278 878 412 $3 206 085 319
9 Polkadot (DOT) DOT Polkadot predictions 68% 68 $27.57 -4.79% -6.28% $27 229 665 528 $1 489 527 276
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66% 63 $0.200266 -2.61% -6.96% $26 329 699 638 $833 434 793
11 UniSwap (UNI) UNI UniSwap predictions 67.2% 68 $24.01 -1.04% 13.50% $14 682 674 805 $1 173 159 622
12 Avalanche (AVAX) AVAX Avalanche predictions 60.8% 84 $66.00 -7.99% 4.98% $14 539 183 357 $1 047 963 478
13 Terra (LUNA) LUNA Terra predictions 68.8% 61 $35.04 -4.51% 23.72% $14 012 646 384 $1 534 292 582
14 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000446 0.07% 0.02% $13 532 124 274 $4 668 219 259
15 Chainlink (LINK) LINK Chainlink predictions 67.6% 70 $23.36 -3.44% -2.07% $10 627 202 783 $1 044 812 386

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