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

After climbing by nearly 100% last week, ANC was once again lower on Tuesday, as bears continue to ravage prices. This comes as ZEC evaded today’s market uncertainty, and rose by as much as 16% during the session.

Zcash (ZEC)

Despite cryptocurrency markets falling by almost 2% in today’s session, the price of zcash (ZEC) was able to rally to its highest level in four days.

Today’s move in ZEC/USD saw prices rally from its long-term support of $106, with the 14-RSI also climbing past its own floor of 49.50.

As of writing this, ZEC is up 14.35%, hitting an intraday high of $128.20 on Tuesday, which is its highest point since March 4.

This surge saw prices approach resistance of $130, however traders appear to have taken profits and closed earlier positions, resulting in a slight easing of gains.

Looking at the chart, we are now also at resistance in terms of price strength, with the RSI currently tracking at 57, which has been a hard ceiling in the past.

Should we see volume move past this level, we may also see a breakout of the $130 resistance, resulting in ZEC heading towards multi-week highs.

Anchor Protocol (ANC)

Anchor protocol (ANC) has seen a tail off two halves over the last 10-days, last week saw a streak of higher highs, resulting in fresh record highs.

So far this week, we have seen these records firmly snapped, with a sizable amount of bearish pressure sending ANC lower.

As of writing this, ANC/USD is trading over 16% lower on Tuesday, hitting an intraday low of $3.58 in the process.

Today’s drop has seen prices fall below the long-term resistance of $4.01, which it broke last week on its way to a new all-time high of $6.19.

Following the 14-day RSI tracking at a peak of 85 only three days ago, price strength is now at 52.40, which is its lowest level since February 17.