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XRP, Tezos, ZCash Price Analysis: 04 September

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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

XRP, Tezos and ZCash Price Analysis: 04 September

XRP/USD, TradingView

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. 

Tezos (XTZ)

XRP, Tezos and ZCash Price Analysis: 04 September

XTZ/USD, TradingView

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.

ZCash (ZEC)

XRP, Tezos and ZCash Price Analysis: 04 September

ZEC/USD, TradingView

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. 

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Anushmita is a full-time journalist at AMBCrypto with a background in Mass Communication. She is inclined towards writing about the socio-political aspects of the crypto market and also has an interest in analyzing market trends.