Crypto Rating presents the comprehensive Zcash price prediction and forecast that provide a better insight into the current ZEC market situation, future expectations concerning the price action and Zcash market capitalization. It will help to get a grasp of what’s going on in the Crypto Market right now, adjust the trading strategy accordingly, make calculated investment and trading decisions in the future. Zcash is a mineable coin that is presently priced at $105.36, and has the market capitalization of $1 343 082 571, which puts it on the 61 place in the global Cryptocurrency Rating. The currently available supply of Zcash is 12 747 431 coins. It is important to the grasp of the projected changes in supply to properly calculate future market capitalization, hence the future price of the cryptocurrency under review.
The trading volume data allows to assess the overall strength of the trend, which, in turn, provides means for a more precise ZEC price forecast, and predicts the shifts in supply and demand that play a decisive role in price changes in both immediate and distant future. According to coinmarketcap.com Zcash trading volume for the past 24 hours is $187 209 798 that constitutes the increase from the previous day. The current tendencies with regard to changes in the average trading volume reveal the increasing demand for ZEC coins on the backdrop of the decreasing supply of the corresponding cryptocurrency.
To get a better understanding of recent ZEC market fluctuations, we introduce the Crypto Volatility Index (CVIX) that clearly depicts the present price dynamics and offers some hints at the possible scenarios of future price action.
Most traders come to the cryptocurrency market in search of digital assets that promise high and extremely high returns, which is achieved, among other things, through volatility that is inherent to this space. And even though the capability of most cryptocurrencies to showcase tremendous gains has been hampered by recent crises, they still remain the point of attraction for those who see this market as a good alternative to stocks, Forex, and other traditional markets. Therefore, volatility represents an immensely important aspect of crypto trading. Crypto Rating always proceeds from a range of factors in when analyzing the price of Zcash and offering short, medium and long-term price prediction using our proprietary algorithm that successfully incorporates artificial intelligence and specifically deep learning mechanisms. Employing the CVIX provides a profound insight into the underlying sentiments in the Zcash market as it accurately depicts the mood of the participants.
Before delving into a more detailed Zcash price prediction, we offer a short recap of the history of CVIX, the mechanism of its calculation, and also a few important tips on how to trade when CVIX is low.
In fact, it was the representative of the traditional markets, the Chicago Board Options Exchange, that served as a birthplace of the Volatility Index (VIX). The primary purpose of the VIX is to efficiently measure the expectations of market participants concerning the price movement of the S&P 500 index over the coming 30 days. A quick reminder that the S&P 500 is arguably the most important equity index that reflects the performance of America’s top 500 corporations, such as Google, Facebook, and Apple.
Taking into consideration the Crypto Market demands and specificity we reinvented the VIX. We’ve used the original VIX as the foundation and added the showings derived from the crypto market that has been developing dynamically over the last several years. The CVIX effectively reflects the 30-day backward-looking volatility within the 10% range. We calculate the average monthly price for Zcash and analyze the number of deviations in the indicated range. The amount of fluctuations present in the market at a given time plays a key role in determining the value of CVIX because it indicates the degree of negative tension among market participants that we simply call the fear, the main driving force behind the volatility.
We have incorporated CVIX into our price prediction model due to several key factors:
- It is arguably one of the most effective instruments for determining the crowd expectations, a critical element of price movement.
- The index also takes into account the occurrences in the Crypto market that has a proven, and increasing, correlation with the Bitcoin price action, a dominant cryptocurrency that exerts a profound impact on the altcoin market, including that of Zcash.
- The bullish convergence arises when the CVIX is going down, whereas the price starts plotting to the upside. In that case, our algorithm will conclude that there is a high probability of the upside action over the designated period of time.
To summarize, the CVIX displays how fearful are the market participants of the price of Zcash dropping significantly over the last 30 days, which is synonymous with expected negative volatility. If CVIX is high (51 – 100 value), it flashes red and signals the increased probability of sharp price fluctuations. The green CVIX (1 – 20 value), on the other hand, means that the participants expect the market to remain calm and predictable over the said period of time. Yellow CVIX (21 – 50) is a moderate value meaning that traders are to expect some swings to the upside or the downside but without any disruptive changes of the overall trend structure.
The CVIX of Zcash is currently flashing 63, which means that traders must brace themselves for significant price fluctuation that needs to be dealt with accordingly. The most basic approach to use when trading with CVIX in any market, whether it is cryptocurrency or stocks, is to set the buy triggers when the volatility goes overboard. The fear is prevailing in the Zcash market that will subsequently lead to a substantial price drop. For those traders who already acquired a position, the high red CVIX implies that the time has come to elaborate on an exit strategy since high volatility combined with fearful sentiment generally results in a sizable price drop. The current price of Zcash is $105.36, established on the back of the -5.62% decrease in the last 24 hours. In the past 30 days, the price of Zcash has decreased by -30.07%, while its accomplishments on the 1-year time frame amount to 61.89%.The expected volatility for the next 10-15 days is at its highest values.
For a comprehensive Zcash price analysis, let’s take a look at the price action on the monthly chart first to determine the key levels of support and resistance that the price is going to interact with on its presumed path to the all-time high.
ZEC/USD price chart – 30 days
Our Zcash price prediction algorithm takes account of not only the reading of the CVIX but also the all-encompassing data of historical price behavior, fundamental characteristics of the coin and the prospects of project’s future development, the emerging candlestick patterns, as well as the signals coming from both leading and lagging indicators that also afford us an opportunity to foresee the measure of volatility and predict the following price action. On that basis of that, we anticipate that the price of Zcash will change as follows: