Zcash is the 57th largest cryptocurrency by market capitalization, which is currently $2,216,957,507. It has a circulating supply of 11,516,688 ZEC, which is 55% of the maximum supply of 21 million. $595,006,450 worth of ZEC has been traded in the last 24 hours. In order to develop a Zcash price prediction for April 2021, we will be looking at some of its past prices and market opinions.
Zcash Price Prediction: Analysis
Zcash is one of the cryptocurrencies that have fallen far from their former price levels. However, it has shown great recovery so far in 2021. Starting the year at just over $64, it has roughly tripled its price now that is just the start of the second quarter. Though the growth has been slow, it has also been steady, but what is the future potential for ZEC in the near term within April?
ZEC had maintained a steady increase from 26 March to 7 April when it experienced a retrace. This is shown by the green candles printed during this period, which suggest great strength in upward momentum. After the retrace, it has bounced back, and now it is again in an upward move which, if it breaks the resistance at $200, could lead to higher prices in the coming days.
The long-term sentiment remains bullish also, indicated by the 200 MA is well below the current price. The 50 MA is also still trending under the current price, showing a shorter-term bullish trend.
The RSI reveals that ZEC was due for a retrace after reaching an overbought level at 75.33. The correction was, therefore, timely and needed for another healthy leg up, which has begun already. At 64.97, there is not much room to grow before another correction, but in a really bullish scenario, this could go further up.
To help traders make better decisions on their trades, Walletinvestor calculates the key support and resistance levels that they should keep an eye on:
- Resistance Level (R3): 199.849;
- Resistance Level (R2): 191.864;
- Resistance Level (R1): 186.645;
- Pivot Point: 178.660;
- Support Level (S1): 173.441;
- Support Level (S2): 165.456;
- Support Level (S3): 160.237.
Zcash is known as one of the privacy coins that make anonymous crypto transactions truly possible. Last month, the company took a step further to ensure even greater privacy of ZEC users. Through collaboration with ThorChain, users can now access more privacy features when using ZEC.
Fans of privacy can now enjoy privacy even in the store of their wealth. This is made possible through this collaboration that allows investors access to shielded pools, using a gateway into the blockchain ecosystem. They can transact with spot Zcash in DeFi and, at the same time, interact directly with the shielded pool.
Zcash Price Prediction: Market Opinions
The following are market opinions on Zcash price forecast according to some of the most popular cryptocurrency price prediction sites. These opinions will give you insight into what the future holds for the ZEC in April 2021.
Walletinvestor‘s Zcash price prediction states that it could reach up to $231 by 23 April. The price is not expected to fall below $175.137 going forward, while the average price is expected to reach a maximum of $213. This is one of the bullish predictions for Zcash in April.
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Longforecast is even more bullish. Its Zcash price prediction for the month places the maximum price at $295. The minimum expected price is, however, much lower, being at $153, and the average price for the month is set at $218. The closing price for the month is expected to reach $266. This will represent a change of 68.4%.
Digitalcoinprice is also bullish on Zcash. It predicts that Zcash will reach an average price of $197 in April. This will represent an increase of 52.48%, which is a very good sign for those interested.
30rates’ Zcash price prediction states that it will reach as high as $295 in April. The minimum expected price going forward is $161, while the closing price for the month is predicted to be $266. Here you can see XRP price prediction for the whole month:
Zcash Price Prediction: Verdict
From the ongoing trends, Zcash has a bright future in April. There is a strong upward momentum despite the slight pullback, and investors seem optimistic about the future performance of the asset. To invest in it though, you should do your own research and probably seek investment advice, as this is just a guide to help you get acquainted with ZEC’s price behavior.
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