Zcash price faces a massive resistance level before a breakout towards $90

  • Zcash price has been trading inside a range above $50 and below $90 for more than four months.
  • The digital asset faces one of the strongest resistance levels before $90.

Zcash is currently trading at $72 after a 35% price increase in the past week. The digital asset has tried several times to crack a crucial resistance level at $75 but always failed to stay above it.

Zcash needs to climb above $75 and stay there to see $90

On November 23, 2020, Zcash managed to crack $75 and hit $90 before a massive rejection the next day dropping to $63. The digital asset tried more than a dozen days to climb above $75 again but failed to do so.

zec price

ZEC/USD daily chart

Zcash bulls have pushed the digital asset above two crucial moving averages, the 50-SMA, and the 100-SMA, and only face the $75 resistance level. A breakout and close above that level can quickly push Zcash price towards $90.

On the other hand, another strong rejection from this critical resistance level will most likely drive Zcash price towards the lower end of the range at $50 which has been a robust support level since May 2020.

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