ZCash (ZEC) Crash Spells Trouble for the Long-Term Trend

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In Brief
  • ZEC has broken down from an ascending support line.

  • Long-term technical indicators are bearish.

  • It's possible that the upward move for ZEC has ended.

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The Zcash (ZEC) price fell considerably during the week of August 31 - September 7. The drop caused the price to break down below numerous support levels, possibly indicating that the upward move has ended. Breakdown From Support Line The ZEC price had been following an ascending support line since it reached a bottom on March 13. Last week's decline caused a breakdown from this support

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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