After a terrible week, cryptocurrency markets are finally looking better. The bleeding seems to have stopped and markets are currently trading sideways. This current uptrend may continue if the bulls manage to beak above major resistance level that’s up ahead. Let’s take a look at some of our favorite cryptocurrencies ZCash, Dash and NEO and see what the charts have in store for us.
Zcash Price Analysis (ZEC/USD)
In today’s intraday chart, technicals for ZEC/USD pair have suggested an active bullish trend with price above the parabolic SAR that indicated a buy signal. ZEC has given a relief performance that traded above $34.0568 support level. It has recorded an intraday gain of 9%, having escalated from $34.1485 to $37.5604. Besides, the short-term SMA is now above the long-term SMA that displayed an unbeatable outlook.
The RSI is also supporting the bullish case since it climbed up and is now close to breaching the sub-50 reading that suggested strengthening bullish pressure. However, since it has not yet moved above the average level is a worrying scenario. If the bulls do not do what it takes and push the price above $39.0000, then a downside price rally is likely in the near term.
Zcash Price Preidction (ZEC/USD)
An upside rally above $40.0000, could retain the bullish outlook. Conversely, a break below the lower channel that is at $37.5600 may reverse the trend to a downside rally near $34.0000
Dash Price Analysis (DASH/USD)
The massive decline of DASH/USD pair is today correcting gains above crucial support level $71.000. Afterward, the coin found strong support at $60.4975 that prevented further downside break. DASH has thereby given an upsurge gain of 1.03% over the last 24hrs. This is after it moved from a lower price of $71.1019 to now changing hands at $71.8414. Besides, the support level was also improved, having moved from $69.4975 to $71.000 that showed an increase in buying pressure. Notably, significant resistance level was found near $73.5675.
Also, the bullish outlook has been supported by the moving averages that are currently giving a positive sign. However, other technical are predicting a bearish sign in the near term. The parabolic SAR is now above the candle that provides investors with a sell signal, and the RSI is below the sub-50 reading showing incoming bearish face in the near-term.
Dash Price Preidction (DASH/USD)
The bullish move could be invalidated if the pair’s price drops below $69.4975 level that may result to further downside rally near $50.0000. However, a break above $73.56745 may extend the bullish momentum to rally near $80.0000.
NEO Price Analysis (NEO/USD)
NEO/USD pair is today walking sideways between resistance level $7.4707and support level $6.9739. NEO underwent through two periods of consolidation phases in a short-term. It started the day consolidating below 46.9739, followed by an increase in buying pressure. That pushed the price to a high of $7.5938 while testing resistance level before taking a break above $7.2850 level.
In terms of the technical, the parabolic SAR is below the candles and the RSI below average that foreshadow incoming bearish outlook. Although at the press time the bulls have the upper hand, the momentum is likely to crush in the short-term.
NEO Price Prediction (NEO/USD)
Conversely, a high probability of an upside correction is likely as reflected by the RSI that is pointing north. If it rises above level 50, then the bullish trend could perhaps be validated. However, a break below $6.9739 may result in a terrible decline near $5.0000.
Cryptocurrency Charts By Tradingview
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
