Technical Analysis: ANC Falls 14%, as ZEC Leads Tuesday Gainers

After climbing by astir 100% past week, ANC was erstwhile again little connected Tuesday, arsenic bears proceed to ravage prices. This comes arsenic ZEC evaded today’s marketplace uncertainty, and roseate by arsenic overmuch arsenic 16% during the session.

Zcash (ZEC)

Despite cryptocurrency markets falling by astir 2% successful today’s session, the terms of zcash (ZEC) was capable to rally to its highest level successful 4 days.

Today’s determination successful ZEC/USD saw prices rally from its semipermanent enactment of $106, with the 14-RSI besides climbing past its ain level of 49.50.

As of penning this, ZEC is up 14.35%, hitting an intraday precocious of $128.20 connected Tuesday, which is its highest constituent since March 4.

ZEC/USD – Daily Chart

This surge saw prices attack absorption of $130, nevertheless traders look to person taken profits and closed earlier positions, resulting successful a flimsy easing of gains.

Looking astatine the chart, we are present besides astatine absorption successful presumption of terms strength, with the RSI presently tracking astatine 57, which has been a hard ceiling successful the past.

Should we spot measurement determination past this level, we whitethorn besides spot a breakout of the $130 resistance, resulting successful ZEC heading towards multi-week highs.

Anchor Protocol (ANC)

Anchor protocol (ANC) has seen a process disconnected 2 halves implicit the past 10-days, past week saw a streak of higher highs, resulting successful caller grounds highs.

So acold this week, we person seen these records firmly snapped, with a sizable magnitude of bearish unit sending ANC lower.

As of penning this, ANC/USD is trading implicit 16% little connected Tuesday, hitting an intraday debased of $3.58 successful the process.

ANC/USD – Daily Chart

Today’s driblet has seen prices autumn beneath the semipermanent absorption of $4.01, which it broke past week connected its mode to a caller all-time precocious of $6.19.

Following the 14-day RSI tracking astatine a highest of 85 lone 3 days ago, terms spot is present astatine 52.40, which is its lowest level since February 17.

Will we spot much drops successful the terms of ANC this week? Let america cognize your thoughts successful the comments.

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