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 is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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