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.
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.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||72.8%||46||$36 221.06||-2.99%||-13.86%||$686 064 825 763|
|2||ETH||Ethereum predictions||71.6%||57||$2 414.43||-1.84%||-23.13%||$288 112 201 953|
|3||USDT||Tether predictions||95.2%||1||$1.000716||0.02%||0.04%||$78 248 084 207|
|4||BNB||Binance Coin predictions||68%||65||$368.16||-3.30%||-22.95%||$60 788 563 476|
|5||USDC||USD Coin predictions||90.8%||1||$0.999993||-0.05%||-0.03%||$49 084 706 161|
|6||ADA||Cardano predictions||68.8%||63||$1.049679||0.84%||-23.02%||$35 219 986 893|
|7||XRP||XRP predictions||73.2%||49||$0.607404||-2.29%||-18.61%||$28 995 606 140|
|8||SOL||Solana predictions||69.2%||63||$89.10||-5.67%||-35.11%||$28 064 342 302|
|9||LUNA||Terra predictions||67.6%||67||$58.47||-6.55%||-28.94%||$23 484 802 131|
|10||DOGE||Dogecoin predictions||70.4%||64||$0.141356||-2.08%||-14.15%||$18 753 744 343|
|11||DOT||Polkadot predictions||67.2%||69||$17.62||-5.50%||-28.42%||$17 399 544 470|
|12||AVAX||Avalanche predictions||67.6%||68||$63.26||-7.41%||-25.24%||$15 489 310 635|
|13||BUSD||Binance USD predictions||93.6%||1||$0.998998||-0.15%||0.05%||$14 526 773 505|
|14||MATIC||Polygon predictions||66.4%||72||$1.55||-2.17%||-25.22%||$11 572 347 692|
|15||SHIB||SHIBA INU predictions||66.4%||70||$0.000021||-3.34%||-25.29%||$11 375 375 737|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2022 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.