Polkadot, Tezos, Zcash Price Analysis: 28 October


Bitcoin rose past $13,700 and some altcoins showed promise as well. Polkadot was trading in a strong uptrend in the past few days and faced a minor pullback. Tezos was caught in the grip of bears once more while Zcash was trading above important levels of support but trending lower.

Polkadot [DOT]

Polkadot, Tezos, Zcash Price Analysis: 28 October

Source: DOT/USDT on TradingView

Polkadot has registered gains of 24% in the past week and could be set to see further upside. It has a level of resistance at $4.8 and its RSI also indicated overbought as the price tested resistance.

DOT saw a minor pullback to $4.73 at the time of writing. The strong bullish trend could take the price past resistance and to $5.5, the next region of historic importance for DOT.

Santiment tweeted that DOT was discussed on social media at 10% above normal rates.

Tezos [XTZ]

Polkadot, Tezos, Zcash Price Analysis: 28 October

Source: XTZ/USD on TradingView

Tezos was trading above the strong region of demand around $2. Yet, XTZ seemed headed lower on the charts.

The MACD showed strong bearishness, as it had formed a bearish crossover and also dropped beneath the zero line recently. The 21 EMA (white) dropped sharply beneath the 55 EMA (pink), showing the momentum of the asset to the downside.

If XTZ bulls are able to defend the region of support over the coming days, it can be ready to move upward to resistance at $2.24, a range that XTZ has mostly traded within over the past month.

Zcash [ZEC]

Polkadot, Tezos, Zcash Price Analysis: 28 October

Source: ZEC/USDT on TradingView

ZEC was trading above a level of support at $60, with another level of support at $56.6. The price has been making a series of lower highs over the past week and might lost the imminent level of support.

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The OBV also showed that buying volume had been dropping, indicated by the descending trendline. A break on the OBV beneath the base of the triangle formed over the last couple of weeks could incite a fresh wave of selling pressure.

This made the levels of support at $60 and $56 even more important for bulls to defend in the coming days.

About the author


Linda Hopkins

Linda is one of the oldest contributors to Sunriseread. She has a unique perspective with regards to business and technology. She aims to empower the readers with the delivery of well-written news pieces, and most importantly, she always tries to bring the news quicker to the readers.

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