Popular privacy coins Monero and Zcash are on a high this morning ahead of US President Joe Biden signing the much-awaited executive order. Experts said the order will bring about a “sweeping review” on crypto.
Monero jumped 24.3% in the last 24-hours, as per CoinMarketCap. It climbed from USD169 to a seven-week high of USD204 – up to around 29.2% from 24 hours ago. Zcash is up by 16.52% in the last 24-hours. It touched $139 – its highest level since the crash on January 20. Zcash, despite the crypto market losing almost 2% recently, was able to rally to its highest level. On Tuesday, ZEC hit an intraday high of $128.20. This is the highest mark since March 4.
However, analysts have highlighted resistance in terms of price strength. The RSI is tracking at 57; this has proved to be a hard ceiling in the past. Touching nearly $140 now, ZEC is well headed for multi-week highs.
Besides, altcoins are also seeing highs and lows. ANC, the native token of Anchor protocol recorded a streak of higher highs. It saw its first record highs. But this week, ANC saw a downturn. A sizeable amount of bearish pressure pushed ANC lower. According to data from CoinMarketCap, ANC is down by 4.26% in the last 24-hours and is trading at $3.90.
ANC’s price drop has been below the long-term resistance of $4.01. It had achieved a breakthrough at this mark last week and reached the high of $6.19.