XRP, Tezos, ZCash Price Analysis: 04 September
Certain altcoins such as XRP and Tezos noted restricted price movements, whereas, ZCash logged a considerable 6.7% gain over the last 24 hours. XRP lost 0.1% and inched close to the price floor of $1.19.
Tezos has stayed around its current price level, since the beginning of September, although indicators pointed to the onset of positive price action. ZCash registered a weekly high while eyeing its multi-month high of $166.67.
XRP resumed its consolidation between $1.27 and $1.19. Failing to maintain its prices above the $1.19 line would push XRP to revisit its its weekly low of $1.07. If XRP drops below its weekly low, then it would be priced around $0.935, a level it last touched three weeks back.
MACD’s green bars on the histogram receded, and a red bar appeared, which marked the beginning of negative price action. Capital inflows also dipped, and the Chaikin Money Flow, in agreement, stood below the mid-line.
Conversely, despite a drop in buying strength, the Relative Strength Index still remained above the 50-mark. A revival in buying pressure could push XRP to topple over the current multi-month high of $1.30 and attempt to touch $1.33.
Amidst its ongoing legal battle with SEC, XRP will now resume trading on Rakuten, a Japanese crypto trading platform.
XTZ depicted range bound movement as it traded at $5.42, a range the token has been oscillating around since the beginning of September. Indicators, however, indicated an anticipated positive price movement. On the upside, XTZ could topple over the $5.75 mark and revisit its four-month high of $6.05.
MACD’s red histograms declined and a green histogram was spotted on the indicator. Buying pressure recovered as the Relative Strength Index stood above the 50-mark.
Bollinger Bands tightened, indicating a restricted price movement, the given range within which prices might oscillate, could be between $5.75 and $5.
In case, XTZ breaks on the upside, it could topple over the $5.75 and revisit its multi-month high of $6.05. Tezos has been expanding it reach through various partnerships.
The recent one being its tie-up with EQIFI, a DeFi platform. Through this development, EQIFI shall bring in the opportunity for Tezos to include staking and borrowing services across its customer base.
ZEC gained 6.7% over the last 24 hours and was priced at $158.59. At the current price level, ZEC secured a weekly high. Moving further north, the coin would topple over the $158.85 resistance price level and revisit its three month high of $166.67.
Parameters remained bullish. MACD’s green bars were visible on the histogram. Relative Strength Index stood slightly above the 60-mark, after observing an uptick in buying strength. Awesome Oscillator displayed growing green signal bars.
If the altcoin witnesses a negative correction, it could fall to the $147.70 price level. Failing to sustain at the aforementioned level would drag ZEC below to its weekly low of $137.78. The $137.78 support line has been a long-standing one as ZEC last traded below the same three weeks ago.