Tag: zcash
Zcash News: Zcash Plunges Risk: Bearish Double Top Sparks Crash Fears
The post Zcash News: Zcash Plunges Risk: Bearish Double Top Sparks Crash Fears appeared com. Zcash is on the edge of a precipitous drop to $256 as a bearish double top pattern emerges, and promises a significant price decline when market sentiment is weakening. The privacy-enhanced cryptocurrency Zcash is facing the danger of experiencing a sharp drop in price, analysts caution. The token shot up more than 850 percent in recent months, reaching a seven-year high of more than $734. 96 on November 8. But since then, it has fallen almost 30 percent, trading at almost $512 at press time, which is an indication of increasing bearish momentum (crypto. news). Double Top Formation Indicates Future Peril. On the 4-hour chart, Zcash has developed a conventional bearish double top trend. The top of the neckline was at 503. 42, and the two peaks were 749 and 683. This technical form is very predictive of falling prices. As the momentum indicators, such as the MACD, are moving downwards, and the RSI continues moving down but not in the oversold zone yet, the environment is ready to continue falling (crypto. news). The next important support level is approximately at the level of $400, and it coincides with a major Fibonacci retracement. Should Zcash decisively fall beneath this support, the price may fall to a crater of $256. 41, which is about half the price it is now. This target is determined by the subtraction of the height of the double top pattern from that of the neckline, which proves the strong bearish pressure in the future. Falling Futures Interest Sentiment Collapses on the market. According to the market data, Zcash futures interest is dropping at a rapid rate. Open futures interest fell 28 per cent in 24 hours to $846 million, showing traders selling contracts and a lack of confidence. Also, the long-to-short ratio was lower than 1, indicating that more of the.
How High Can Zcash Price Go In November?
The post How High Can Zcash Price Go In November? appeared com. Zcash (ZEC) price has been on an impressive upward trajectory, gaining more than 10% in the past 24 hours. This surge follows a notable 50% increase over the past week, pushing ZEC to hover around the $400 mark. With such a positive mood, analysts are looking at additional gains, and there is a chance that the market could keep climbing in the next few days. Zcash is performing well, whereas other cryptocurrencies, such as Bitcoin price, Ethereum (ETH), Binance Coin (BNB), and Dogecoin (DOGE), are experiencing modest growth. The TAO price, among the best performers, also witnessed a great boost, gaining more than 20% in the recent trading. However, the majority of altcoins have posted only minor gains within the same timeframe. Here’s Why Zcash Price Is Up Today The price of Zcash has been increasing significantly in the past 24 hours, which was caused by a number of influential factors. A minor squeeze has also been playing a significant role, as more than 65 million of ZEC futures have been liquidated, most of them through short positions. Approximately 65% of traders shorted ZEC as of November 1, which led to a dynamic in which an increase in prices caused further liquidations, which further inspired further gains. This is coupled with the anticipation of the impending November 2025 halving that will cut mining rewards to 1. 5625 to 3. 125 ZEC per block, and this has fueled the bullishness. In addition to this, celebrity endorsements, including the Arthur Hayes price target of 10, 000 USD on ZEC, have increased the social media-induced FOMO, making retail investors enticed. The market is currently converged to the $581. 43 liquidation level, whereby a breakout above will cause a cascade of buybacks, and this will cause an additional upward movement. Zcash Price Surge Signals Potential Bullish Rally The.
Zcash price surges – How THIS support could fuel ZEC’s $300 run
Key Takeaways What’s driving Zcash’s recent price surge and bullish momentum? Strong technical indicators, rising retail accumulation, and buyer dominance across markets are fueling the rally. The post Zcash price surges How THIS support could fuel ZEC’s $300 run appeared first on AMBCrypto.
The New York Times
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