Crypto Technicals: Zcash retraces previous session's gains, bias bullish as long as pair holds 200-DMA support

ZEC/USD chart - Trading View

Exchange - Kraken

Support: 72.75 (21-EMA); Resistance: 94.68 (Nov 29 high)

Technical Analysis: Bias Bullish

Zcash is trading 6.42% lower on the day at $79.83 at 06:00 GMT.

ZEC/USD has retraced most of the previous session's gains.

Immediate support lies at 5-DMA at 78.06, break below eyes 21-EMA at 72.75.

The pair is trading with a bullish bias on the daily charts. Price action is above 200-DMA and cloud.

Major moving averages are biased higher and next bull target lies at 94.68 (Nov 29 high).

We see resumption of weakness only on break below 200-DMA.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.