Zcash Price Prediction – Will ZEC Price Hit $300 in 2021?

This Zcash (ZEC) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our Zcash (ZEC) price analysis and prediction.

Over the past few days, the crypto market looks to be recovering fast. Moreover, after the dip in the past two months, the crypto market either remains stable or surges steadily. At present, it looks like the crypto-asset industry will surge high again.

Will Zcash (ZEC) experience the same price volatility? We’ll find out soon in this Zcash (ZEC) price analysis 2021 article. But first, let’s have a look at what Zcash (ZEC) is.

What Is Zcash?

Zcash is a decentralized and open-source digital asset that provides privacy and selective transparency of transactions. Moreover, Zcash payments are released on a public blockchain, but the sender, recipient, and transaction amount remain private.

Zcash is a peer-reviewed cryptographic network created by a security-specialized engineering team on an open-source platform based on Bitcoin Core’s battle-tested codebase. More so, Zcash uses advanced cryptographic techniques, namely zero-knowledge proofs, to guarantee the validity of transactions without revealing additional data about them.

Now that we have an idea about Zcash, do you think ZEC will be profitable crypto in 2021? Join me, and together let us check the charts in this ZEC price analysis and ZEC price prediction.

Zcash Current Market Status

When writing this Zcash price analysis, ZEC trades at $145.33 with a 24-hour trading volume of $297,163,463. The price of ZEC has increased by 3.52% in the last 24 hours.

Furthermore, ZEC has a current circulating supply of $12,432,512.50. Currently, the top digital asset trading platforms for ZEC are Binance, OKEx, Huobi Global, FTX, and CoinTiger. Now, let’s move to the next part of this ZEC technical analysis for 2021.

Zcash Price Analysis 2021

Recently, ZEC took the 74th position on CoinGecko. But will the recent developments, upgrades, and changes in the blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this ZEC price prediction 2021 article.

As shown above, at the beginning of this, Zcash turned from its bear-to-bull trend. This shows a high trade volume occurred in that period. Moreover, in the daily time frame, ZEC showed an Ascending Scallop pattern.

Normally, this pattern is followed by an uptrend position but in some cases, the pattern can change and move into a downtrend position. More so, in this chart above the pattern took a month for the formation to take place.

The Relative Strength Index (RSI) is at 69.59, which means that ZEC is in an overbought state. Moreover, this indicates that crypto traders and investors can trade, however, this pushes crypto investors to worry about any major price reversal.

Furthermore, crypto traders must trade cautiously and must not be affected by the cryptocurrency market hype. With this in mind, cryptocurrency traders must be careful to avoid unexpected losses due to the crypto market’s wild swings.

Let us also look at the Exponential Moving Average (EMA) and the Simple Moving Average (SMA) of Zcash.

Since the start of 2021, ZEC’s price has seen many bullish moves, which are higher than the previous one. More so, these are followed by consolidation, fluctuations, and corrections right away. Taking this into consideration, ZEC has a competitive market this 2021.

Zcash Price Prediction 2021

The chart below shows that ZEC has performed great over the past few days. Moreover, the ZEC price shows a bullish trend. If this trend continues, ZEC might run along with the bulls, overtaking its $187 resistance level and move even higher to $266.

Conversely, if the investors turn against the crypto, the bears might take over and push ZEC from its uptrend position. In simpler terms, the price of ZEC might decrease to almost $84.17, a bearish signal.

Meanwhile, our long-term ZEC price prediction 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

Zcash Price Prediction 2022

If this bullish trend continues, ZEC will reach $350 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $400. Then this rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $350 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Zcash Price Prediction 2023

If ZEC holds the support level around 200-MA, the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $550, making it not plummet but play consistently.

Zcash Price Prediction 2024

As per the latest upgrades, developments, ZEC price prediction, and new project forecasts of the platform, ZEC investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of ZEC in the crypto market, and it will be the best investment as the price can spike and reach around $800.

Zcash Price Prediction 2025

In the next four years, ZEC prices could race up to $950. However, reaching this level could not be so difficult for ZEC as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that ZEC has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

ZEC seems to have a great future ahead in 2021. With the ongoing developments happening within the ZEC ecosystem and the overall crypto market, we may see ZEC reach new heights.

Meanwhile, our long-term ZEC price prediction 2021 is bullish. Even more, the bullish ZEC has a high possibility of reaching $266. However, that will only happen if it breaks the past psychological resistance. It may even reach $300 if investors continue to side with ZEC this year along with the mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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