• Latest
Zcash

Will Zcash (ZEC) Feel The Effects Of The Coinbase Curse?

3 months ago
Scam

GandCrab Ransomware Spreads Through Valentine’s Day Emails; Attackers Demand Cryptocurrency

3 hours ago
Tron-scam: Investors Fall for Fake Tronscan Scam Websites

Tron-scam: Investors Fall for Fake Tronscan Scam Websites

7 hours ago
bitcoin revolution

New Banking Policies Will Drive Hyperbitcoinization

11 hours ago
Ethereum 2.0

Ethereum Leads Rally as Investors Wake Up to Marketwide Sea of Green

15 hours ago
Coinmama

Coinmama Confirms Massive Data Breach: 450,000 Users Affected

19 hours ago
Substratum (SUB)

Binance Banishes Previous Market Top-Dogs Substratum and SALT, Among Others

23 hours ago
Litecoin (LTC)

The Litecoin Foundation and LTC Are Not The Same Thing — Let Alone LitePay

1 day ago
price prediction

IOST Price Prediction 2019 / 2020 / 5 years

1 day ago
Satoshi Nakamoto

Craig Wright Tells CFTC He is Satoshi Nakamoto (And Attacks Ethereum)

1 day ago
terry duffy

CME Group CEO: Bitcoin Will Need Government Backing to Truly Succeed

2 days ago
Long Vuong Vitalik Buterin

TomoChain Founder Claims Vitalik Buterin’s Centralization Criticism is Unfounded

2 days ago
TRON

Tron Announces Pre-Order Date for GRID, a Single-Use TRX and BTT Crypto Card

2 days ago
BeInCrypto
  • Featured
    Scam

    GandCrab Ransomware Spreads Through Valentine’s Day Emails; Attackers Demand Cryptocurrency

    Tron-scam: Investors Fall for Fake Tronscan Scam Websites

    Tron-scam: Investors Fall for Fake Tronscan Scam Websites

    bitcoin revolution

    New Banking Policies Will Drive Hyperbitcoinization

    Coinmama

    Coinmama Confirms Massive Data Breach: 450,000 Users Affected

    Substratum (SUB)

    Binance Banishes Previous Market Top-Dogs Substratum and SALT, Among Others

    Satoshi Nakamoto

    Craig Wright Tells CFTC He is Satoshi Nakamoto (And Attacks Ethereum)

  • Latest News
    • All
    • (BCH) Bitcoin Cash News
    • (BTC) Bitcoin News
    • (ETH) Ethereum News
    • (LTC) Litecoin News
    • (XRP) Ripple News
    • Altcoin News
    • Regulation News
    Scam

    GandCrab Ransomware Spreads Through Valentine’s Day Emails; Attackers Demand Cryptocurrency

    Tron-scam: Investors Fall for Fake Tronscan Scam Websites

    Tron-scam: Investors Fall for Fake Tronscan Scam Websites

    bitcoin revolution

    New Banking Policies Will Drive Hyperbitcoinization

    Ethereum 2.0

    Ethereum Leads Rally as Investors Wake Up to Marketwide Sea of Green

    Coinmama

    Coinmama Confirms Massive Data Breach: 450,000 Users Affected

  • Analysis
    • All
    • Altcoin Analysis
    • Bitcoin Analysis
    • Ethereum Analysis
    Ethereum 2.0

    Ethereum Leads Rally as Investors Wake Up to Marketwide Sea of Green

    price prediction

    IOST Price Prediction 2019 / 2020 / 5 years

    civic price prediction

    (CVC) Civic Price Prediction 2019 / 2020 / 5 years

    cryptocurrency price prediction

    (DNT) district0x Price Prediction 2019 / 2020 / 5 years

    monero vs zcash

    Battle of the Privacy Coins: Monero vs. Zcash

    Trending Tags

    • Coinbase News
    • Binance News
    • (USDT) Tether News
    • Bitfinex News
    • Kraken News
  • Industry
    • All
    • Blockchain News
    • Companies News
    • Mining News
    • Scams
    Scam

    GandCrab Ransomware Spreads Through Valentine’s Day Emails; Attackers Demand Cryptocurrency

    Tron-scam: Investors Fall for Fake Tronscan Scam Websites

    Tron-scam: Investors Fall for Fake Tronscan Scam Websites

    bitcoin revolution

    New Banking Policies Will Drive Hyperbitcoinization

    Ethereum 2.0

    Ethereum Leads Rally as Investors Wake Up to Marketwide Sea of Green

    Coinmama

    Coinmama Confirms Massive Data Breach: 450,000 Users Affected

    Trending Tags

    • (XLM) Stellar News
    • EOS News
    • (TRX) TRON News
    • BitMEX News
    • (XMR) Monero News
    • Gemini News
  • About
    • The Team
    • Our Mission
    • Contact Us
    • Editorial Policy
    • Privacy Policy
    • Terms and Conditions
    • Disclaimer
No Result
View All Result
BeInCrypto

Home » Will Zcash (ZEC) Feel The Effects Of The Coinbase Curse?

Will Zcash (ZEC) Feel The Effects Of The Coinbase Curse?

Sell the news!

by Carl Bird
3 December, 2018 at 9:25 EST
in Altcoin Analysis, Altcoin News, Analysis, News, Top Stories
0
Zcash
Share on FacebookShare on Twitter

Zcash (ZEC) is a privacy-focused cryptocurrency which utilizes zero-knowledge proofs to enhance the anonymity of the transacting parties.

ZEC has been on the market for more than two years and recorded an all-time low of $27 in Feb 2017. ZEC climbed to $780 at the beginning of 2018 before tipping over the edge into the 2018 bear market.

At the time of writing, ZEC is trading for $84 — making for a total of nearly 90 percent of its total market cap lost in the past 11 months.

This past week, the cryptocurrency exchange goliath Coinbase unexpectedly announced that ZEC would be the next to be added to its platform. This news caused a rapid buying spike which, in turn, caused the price to rise 21 percent to $97. This glory was short-lived, however, as those who bought early on have already sold off to take profits.

This same pattern can be seen with the three cryptocurrencies listed on Coinbase before ZEC — Basic Attention Token (BAT), 0x (ZRX) and Ethereum Classic (ETC).

Stochastic RSI

Looking at both the 3-day and two-week stochastic RSI, we can see ZEC seems to be overbought and will most likely experience more selling-off in the next few days.

This could allow for some consolidation and a retest of the new low level in the neighborhood of $65 to $75.

Premature Celebration

ZEC has fallen within the confines of a descending channel and has established supports on the way down at the $170, $115 and most recently, $70 levels.

Considering the Stoch RSI, it is likely that the bounce off of the $70 support will fall back to test the range and could potentially pierce the support briefly before returning and trading sideways towards the descending line.

Unless Bitcoin makes a significant move within this time, ZEC could go lower to test its all-time low levels in the $30 range. Click To Tweet

Short term traders should beware that the risk of another 50 percent dip is likely not worth the potential rewards of a small move to the upside, depending of course on your risk allowance.

It would be best to wait for confirmation of movement once the price gets closer to the descending line to enter a position, most likely in Q1 of 2019.

Will ZEC be able to break out of the descending trend before the end of 2018? Will ZEC reach a new all-time high in 2019? Let us know your thoughts in the comments below! 


Images courtesy of TradingView.

Disclaimer: The contents of this article are not intended as financial advice, and should not be taken as such. BeInCrypto and the author are not responsible for any financial gains or losses made after reading this article. Readers are always encouraged to do their own research before investing in cryptocurrency, as the market is particularly volatile. The author of this article does not hold ZEC.

Tags: (ZEC) Zcash NewsCoinbase News
ShareTweetShare
Carl Bird

Carl Bird

Migrated from the East Coast USA to South-East Asia for adventures and tasty noodles. Began trading cryptocurrency in early 2017, and now spend most of my time doing chart analysis and price projections. Email me!

Discussion about this post

BeInCrypto

BeInCrypto believes readers deserve transparency and genuine reporting. As such, we do not accept payment for articles. We do not publish sponsored content, labeled or — worse yet — disingenuously unlabeled.

Follow Us

Latest News

Scam

GandCrab Ransomware Spreads Through Valentine’s Day Emails; Attackers Demand Cryptocurrency

19/02/2019
Tron-scam: Investors Fall for Fake Tronscan Scam Websites

Tron-scam: Investors Fall for Fake Tronscan Scam Websites

18/02/2019

The Top 5 Crypto News Delivered Weekly

Get BeInCrypto weekly newsletter on your inbox.

  • Work With Us
  • Submit a Press Release
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © beincrypto.com

  • Latest News
  • Top Stories
  • Topics
    • Altcoin News
    • (BCH) Bitcoin Cash News
    • (BTC) Bitcoin News
    • (ETH) Ethereum News
    • (LTC) Litecoin News
    • Regulation News
    • (XRP) Ripple News
  • Analysis
    • Altcoin Analysis
    • Bitcoin Analysis
    • Ethereum Analysis
  • Technology
    • Blockchain News
    • Companies News
    • Mining News
  • Reviews
  • Editorial Team
  • About
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer