Zcash (ZEC) Price Analysis for January 11 - U.Today

The last day of the week is bullish for the crypto market, according to CoinMarketCap.

Top coins by CoinMarketCap## ZEC/USD

The rate of Zcash (ZEC) has risen by 3.34% over the last 24 hours.

Image by TradingViewOn the hourly chart, the price of ZEC might have set a local resistance at $400.60. If the daily bar closes far from that mark, one can expect a test of the support by tomorrow.

Image by TradingViewOn the bigger time frame, one should focus on the nearest level at $371.25. If a breakout happens, the accumulated energy might be enough for an ongoing decline to the $320 zone.

Such a scenario is relevant over the next week.

Image by TradingViewOn the weekly chart, the price of ZEC has bounced off the support at $371.25. However, if a correction does not happen and the weekly bar closes near that mark, traders may see a test of the $300 range by the end of the month.

ZEC is trading at $389.24 at press time.