ZEC price shows a bullish reversal rally challenging the overhead resistance trendline. Will the increasing demand result in a breakout rally? Key technical points: The ZEC market price has appreciated 5.02% over the past 24 hours. The price action shows a high likelihood of a trendline breakout. The 24-hour trading volume of Zcash is $90.07 Million, indicating a hike of 2.31%. Past Performance of ZEC The ZEC price chart showcases a downtrend under the influence of a resistance trendline leading to a 72% fall to the $58 mark. The crucial support level pushes the price higher back as the trading volume increases leading to a price jump to $70. The reversal inflates the market value by 22% after a bullish spike on the 19th of June resulting in a jump to the resistance trendline. Source- Tradingview ZEC Technical Analysis ZEC price action bullish candle formation with no significant higher price rejection teasing a potential breakout rally. Hence, traders can find a bullish entry spot if the daily candle closes above the resistance trendline. The DMI indicator shows a high possibility of a bullish crossover in the DI lines as the bearish spread decreases. Moreover, the ADX line represents a weakness in the bearish trend adding points to the trend reversal possibility. The RSI indicator shows a bullish trend surpassing the 14-day SMA (yellow) and the halfway line. Hence, the indicator displays a surge in the underlying bullishness...
