Zcashs currency price (ZECUSD) declined in latest intraday trading after hitting the resistance of the 50-period SMA, with negative signals starting to stream from the Stochastic after reaching extremely overbought levels. The price is now attempting to gather positive momentum that may help it overcome this negative pressure and vent off some of the apparent overbought saturation, amid the dominance of the short-term upward correctional trend and trading alongside a rising trend line.

Therefore we expect the currency to rise in upcoming intraday trading, but only if it first breaches the resistance level of $46.22 a move that would confirm relief from current downside pressure and open the door to target the pivotal resistance of $56.88.

Todays price forecast: Bullish