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Zcash "ZEC" Technical Analysis | 8 August 2019

2019-08-08 10:16 am | Resource: Technical Analysis Section | No Views : 42

Zcash Cryptocurrency Zcash (ZEC) failed this month to breach $ 69.52 resistance areas due to weak bulls' determination.
Consequently, it fell towards the $ 64.17 areas from which it bounced towards the $ 67.79 zones and with the failure of the initial resistance breakout, it fell towards the first support areas.
Zcash "ZEC" Technical Analysis | 8 August 2019
Zcash (ZEC) is trading through a bearish trend that is being formed over the 240 minute interval. This trend supports the breach of the $ 63 low and we do not recommend selling now until $ 60.85 is broken.

Analysis of technical indicators of the digital currency Zcash (ZEC):

The ADX indicator indicates that the bearish trend is currently weak.
The simple fast moving average and the simple slow moving average are currently bearish.
The MACD momentum indicator with default settings is bearish at these times.

Outlook:

It is expected that, in the event of a digital currency breach of area of ​​$ 67.90, Zcash (ZEC) may target the level of $ 88.50.
On the other hand, if the cryptocurrency breaks the $ 60.85 zone, Zcash (ZEC) might target $ 55.00 zones.
Support: 61.38 - 55.00 - 52.5
Resistance: 69.52–74.87–84.19
Trend: Down

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