👀Huobi x CoinMarketCal👀A Coin To Keep An Eye On-Zcash!
Zcash is based on Bitcoin’s codebase. It shares many similarities such as a fixed total supply of 21 million units.
Transactions can be “transparent” and similar to bitcoin transactions in which case they are controlled by a t-addr, or can be a type of zero-knowledge proof called zk-SNARKs; the transactions are then said to be “shielded” and are controlled by a z-addr.
📅 Upcoming Event:
Nov. 17–18th Zcash (ZEC) Halving From coinmarketcal.com
Block halving event happens every 4 years on Zcash blockchain. Zcash’s initial block reward was 12.5 ZEC, new block reward will be 3.125 ZEC. The block reward splits every 4 years (840,000 mined blocks). This lowers the rate at which Zcash is generated. The halving is periodical and is programmed into Zcash’s code quoted from nicehash.
September’s sweep of the lows into the Q3 open has confirmed this area as support and cleared the way to start a bullish trend in ZEC.
So far, the Q4 open has acted as resistance for the price. This price action could indicate that the current region is an accumulation zone before a much larger move up — possibly spurred on by next Tuesday’s halving.
Flipping this level into support would clear the way for further movement upward to challenge resistance at the range highs starting at $72.46. This move could extend into probable resistance at $85.98.
The Q3 open acted as strong support, but bulls might not get the chance to enter here if this is the start of a bullish trend. Instead, bulls are likely to enter at current support beginning at $58.21 if targeting a move toward the Q4 open.
1. Trading in digital assets comes with high risks due to huge price fluctuations. Users should be fully aware of the risks associated with digital asset trading and make prudent trading decisions.
2. Huobi Global’s announcements and information do not constitute investment advice, and Huobi will not bear responsibility or provide compensation for direct or indirect losses arising from trading decisions whilst relying on this information.