Zcash Price Prediction 2022 – Will ZEC Hit $300 Soon?
- Bullish ZEC price prediction is $127.6 to $271.7.
- The ZEC price might also reach $300 soon.
- ZEC bearish market price prediction for 2022 is $26.5.
In Zcash’s (ZEC) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about ZEC to analyze the future movement of the cryptocurrency.
Zcash Current Market Status
According to CoinGecko, the price of ZEC is $91.64 with a 24-hour trading volume of $206,052,006 at the time of writing. However, ZEC has increased nearly 3.4% in the last 24 hours.
Moreover, ZEC has a circulating supply of 12,050,337 ZEC. Currently, ZEC trades in cryptocurrency exchanges such as Binance, OKX, Huobi Global, CoinTiger, and Bitget.
What is Zcash (ZEC)?
Zcash (ZEC) is a Bitcoin Core hard fork that launched in October 2016. It is a cryptocurrency that uses cryptography to provide its users with greater privacy than other cryptocurrencies such as Bitcoin. Zcash is built on the Bitcoin codebase.
Zcash is an open-source protocol, the Zcash Company has no control over any aspect of the cryptocurrency other than providing updates to the software underlying the Blockchain. This contributes to Zcash being truly decentralized.
Zcash (ZEC) Price Prediction 2022
Zcash holds the 86th position on CoinGecko right now. ZEC price prediction 2022 is explained below with a weekly time frame.
The horizontal channel trend has the appearance of a rectangle pattern. It consists of at least four contact points. This is because it needs at least two lows to connect, as well as two highs. Buying and selling pressure is equal and the prevailing direction of price action is sideways.
Currently, ZEC is in the range of $91.64. If the pattern continues, the price of ZEC might reach the resistance level of $271.7. If the trend reverses, then the price of ZEC may fall to $82.3.
Zcash (ZEC) Support and Resistance Level
The below chart shows the support and resistance level of ZEC.
From the above daily time frame, it is clear the following are the resistance and support levels of ZEC.
- Resistance Level 1 – $127.6
- Resistance Level 2 – $181.2
- Resistance Level 3 – $301.9
- Support Level 1 – $82.6
- Support Level 2 – $50.5
- Support Level 3 – $26.5
The charts show that ZEC has performed a bullish trend over the past month. If this trend continues, ZEC might run along with the bulls overtaking its resistance level at $301.9.
Accordingly, if the investors turn against the crypto, the price of the ZEC might plummet to almost $26.5, a bearish signal.
Zcash Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of ZEC is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of ZEC lies below the cutoff line, indicating weaker participants in the current trend.
More so, the ZEC’s Moving Average (MA) is shown in the chart above. Currently, ZEC is in a bearish state. Notably, the ZEC price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of ZEC at any time.
Meanwhile, the relative strength index (RSI) of the ZEC is at level 21.46. This means that ZEC is in a oversold state. However, this means a major price reversal of ZEC may occur in the upcoming days. So, traders need to trade carefully.
Zcash Price Prediction 2022 — ADX, RVI
Let us now look at Zcash’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Zcash. Currently, ZEC lies in the range of 30.3, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of ZEC. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of ZEC lies below the 50 levels, indicating that the direction of volatility is low. In fact, ZEC’s RSI is at 21.46 level thus confirming a potential sell signal.
Comparison of ZEC with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Zcash.
From the above chart, we can identify the trend of the ETH is moving at the upward trend. But, the recent trend of BTC and ZEC moves in a downward direction.
Conclusion
With continuous improvements in the Zcash network, we can say that 2022 is a good year for ZEC. For this reason, the bullish price prediction of Zcash in 2022 is $271.7. On the other hand, the bearish ZEC price prediction for 2022 is $26.5.
Furthermore, with the advancements and upgrades on the ZEC ecosystem, the performance of ZEC would help to reach above its current all-time high (ATH) $181.2 very soon. But, it might also reach $300 if the investors believe that ZEC is a good investment in 2022.
FAQ
Zcash is a cryptocurrency that aims to use cryptography to provide advanced privacy to its users compared to other cryptos such as Bitcoin.
ZEC has listed on many crypto exchanges which include Binance, OKX, Huobi Global, CoinTiger, and Bitget.
With the ongoing developments and upgrades within the ZEC platform, it has a high possibility of reaching its ATH soon.
On Oct 29, 2016, ZEC reached its new all-time high (ATH) of $3191.93 .
Zcash (ZEC) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of ZEC in the past few months, ZEC is considered a good investment in 2022.
Zcash (ZEC) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Zcash (ZEC) will hit $300 soon.
Zcash (ZEC) price is expected to reach $380 by 2023.
Zcash (ZEC) price is expected to reach $450 by 2024.
Zcash (ZEC) price is expected to reach $600 by 2025.
Zcash (ZEC) price is expected to reach $720 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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