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ZCash Price Analysis: ZEC Soaring By 7% Today. Thursday, October 18th

18 october 2018, 23:27 by John Kiguru

Zcash Price Analysis; Soaring By 7% Today

The last 24 hours have been great for Zcash holders. Finally, a positive surge that has seen prices bust from the slow but steady growth in the last 7 days. If the positive momentum continues the coin could finally recover its position around $129. At the time of writing this, the coin is trading at $122 marking a 7.01% price increase in the last 24 hours.

This is a significant surge given that the market is mixed with coins in the green zone and in the red zone. And even those that have recorded gains in the last 24 hours range between 0.50% to 5%.

The price movement is no surprise given how strong Zcash has been looking in the last couple of days. Following the market crash on October 11, the coin has been steadily climbing and creating some positive momentum around it. Today’s performance was the coin coming out of the shadows and finally bursting into action.

Although Zcash has seen better days, having fallen from highs of nearly $900 at the beginning of the year, to what is now just over $100, the coin is beginning to show real prospect over its future. This latest surge is proof that the coin still has so much potential and could easily shoot.

Zcash is one of the four coins that Coinbase announced was considering supporting. Now that 2 days ago the platform supported one of the four- 0x, chances of Zcash being added on the popular platform have increased significantly. If this were to happen in the coming days, and specifically when the coin is still enjoying its current positive momentum, we could see it record price increases of up to 30%.

For now, all eyes are on the $144 resistance level, which remains a major position for it. The bulls on September 28 hit this mark but were unable to break it and remains the real test for them.

ZEC/USD Price Chart, Thursday October 18th:

Zcash ZEC Price Chart, October 18

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