ZEC Price Analysis July 2022

ZEC is a coin of the platform Zcash. Its current price is around $59.84 by the time of writing, with a low of $51, and has a market cap of 890 million dollars.

What is Zcash?

Zcash is a type of cryptocurrency that can be exchanged anonymously, with low fees. ZCash serves the problem Bitcoin faces of anonymity. It is more private and has more security than its competitor, which makes it better for everyday use. ZCash can be mined on any device or computer but is best mined on devices called ASICs (application-specific integrated circuits).

What is ZEC?

ZEC is the coin of the Zcash platform, which is around $59.84 by the time of writing, with a low of $51. It reached a high of $303, and its current ranking is #51 according to CoinMarketCap, with a market cap of 890 million dollars. ZEC is a cryptocurrency that allows for private transactions. They are fully encrypted, making it impossible to figure out who sent and received them. This is different from other popular currencies, where the idea of transparency is one of the key factors besides securing user information.

ZEC Coin Market Analysis 

ZEC has a total supply of 14,776,638 coins worth around $59.84 with a market volume of 55 million dollars, whereas the market capitalization is 890 million dollars at writing. The Zcash price has reached its lowest point in the past 52 weeks. However, prices will rise again if the bulls push them up. The token is even showing signs of being oversold with the constant support of bears and an RSI reading of 37, meaning it’s showing signs that it may get back on track soon.

ZEC Price Prediction

The potential high & low prices for 2026 based on forecasts are around $600 and $480, respectively. Therefore, we believe the ZEC coin is a profitable investment, with the potentially high price for 2026 being around $600. On the 1D timeframe, the price action of $ZEC/USDT has broken the falling wedge chart pattern. Currently, the price is testing out above the resistance trendline. If it is retested successfully, we will see a bullish rally.

Zec Price Charts July 2022
ZEC Price Charts July 2022

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Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh

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