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Waves, ZCash, EOS Price: Alts recovering as buying pressure rises

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While inconsistent, the bulls have returned to the markets of certain altcoins, with each of these alts having sufficient volumes to support such market trends.


Source: EOS/USD on Trading View

Source: EOS/USD on TradingView

The eight-largest coin on CMC with a market cap of $2.04 billion, EOS was one of the cryptos to report a bullish trend in the market. Even though the coin wiped out all its 2020 gains and was down by 13.08%, the Awesome Oscillator indicated the strength of the crypto-asset. The trend was strong until a few days back and at press time, it was retracing. This meant that the reversal of the trend was near.

EOS was being traded at $2.20, while its resistance was marked close to $2.388 and support at $1.84. The 24-hour trading volume of the coin remained at $2.28 billion.


Source: WAVES/USD on Trading View

Source: WAVES/USD on Trading View

Waves had a small market cap of $96.29 million, while its 24-hour circulating supply remained at $151.85 million. The coin was noting tremendous growth over the past 24-hours, by almost 30%, as its value stood at $1.005, at press time. According to the Bollinger Bands indicator, the coin was in a bullish zone with reduced volatility. The coin was close to breaching its immediate resistance at $1.043, while its support was marked at $0.7251.

Waves blockchain firm recently updated its enterprise platform, an update that included accelerated smart contract execution, licensing fees, and inter-chain anchoring.

Zcash [ZEC]

Source: ZEC/USD on Trading View

Source: ZEC/USD on Trading View

Zcash [ZEC] has been offering returns of 12.99% to its investors since the beginning of 2020. The coin suffered spurts of devaluation and was valued at $30.74, at press time. Its immediate resistance was marked close to $34.34, while the support was at $25.73.

The ZEC market took a bullish turn as the Chaikin Money Flow rose above the o mark, indicating that the price of the asset may continue to build as buyers make an entry. ZEC recently was listed on the WBF exchange.


Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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