Upside Break on the Way? Zcash Eyes Gains Against Bitcoin

Privacy-focused cryptocurrency zcash is solidly bid against the dollar and could soon see a spike against bitcoin.

As per data source CoinMarketCap, zcash (ZEC) has appreciated by 12 percent in the last 24 hours. As of writing, it is trading at $718 levels – that’s down 24.83 percent from the lifetime high of $955.26 set on Jan. 7, but, week-on-week, the cryptocurrency is up 22 percent.

ZEC’s retreat from the record high of $955.26 could be associated with overbought technical conditions and broad-based drop in cryptocurrency prices due to fears of trading restrictions in South Korea. Prices hit a low of $601.87 on Monday, and have since struggled to extend gains above $730 levels.

That said, the price chart indicates an upside break could happen soon…

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