Zcash Price Prints More Green Candles Despite Blood On The Streets
The post Zcash Price Prints More Green Candles Despite Blood On The Streets appeared on BitcoinEthereumNews.com.
Key Insights: ZCASH (ZEC) price goes on a 5-day bullish streak as the overall crypto market faces a bearish weekend. ZCASH becomes one of the few cryptocurrencies sucking up liquidity as altcoin dominance pushes higher. Cardano founder Charles Hoskinson reacts to the Winklevoss twins’ involvement with ZCASH. ZCash price initially kicked off last week on a bearish leg. However, a mid-week bullish resurgence occurred, reignited by the Winklevoss twins and their commitment to supporting the privacy coin. Zcash price pushed as high as $740 on Sunday after achieving five consecutive daily green candles. A 13% uptick from its weekly low, which confirmed that demand remained strong. The cryptocurrency pulled back slightly and had a $674 price tag at press time. This indicates at a cooling bullish momentum for the asset. Zcash (ZEC) Price Action | Source: TradingView The RSI for Zcash (ZEC) signaled that its rally last week was not as overbought compared to its rally in the first week of November. Nevertheless, the fact that it managed to overcome the overall market downtrend confirmed its robust appeal in the market. Although the privacy coin delivered an impressive upside, it was overbought, and this could lead to yet another selloff in the coming days. Can Zcash (ZEC) Price Maintain the Rally? Bitcoin dominance has been retreating for almost 2 weeks now. As a result, altcoins were supposed to be receiving more attention, but most top altcoins were also in the red. Zcash price was one of the few exceptions, and its performance revealed that it has been soaking up liquidity. Granted, the privacy coin maintained an aggressive upward trend in terms of dominance, too. For reference, Zcash dominance jumped from as low as 0.031 at the start of October but has since pushed as high as 0.35%. A 1,000% plus…
