Altcoins News
By Steven Anderson
1 / 15
A Trend Reversal Confirmed on the Charts. Zcash hit an all-time high of $750 on November 7. However, momentum began to shift just days later…
2 / 15
Technical Indicators Deepen the Bearish Outlook. The concern extends far beyond price action alone. Some of the most widely followed momentum…
3 / 15
ETF Optimism Meets Market Skepticism. Adding complexity to the situation is the timing of the decline.
4 / 15
The Quantum-Resistance Narrative Remains, but Price Momentum Does Not. Zcash still carries one advantage that supporters point to amid the pullback: it is considered…
5 / 15
Short-Term Trend Hinges on Key Levels. For the current downtrend to reverse, Zcash would need to reclaim the broken channel and surpass…
6 / 15
The Road Ahead
7 / 15
After one of the strongest price rallies of the year, Zcash has abruptly shifted direction with a major breakdown that has taken many traders by surprise.
8 / 15
The drop has been especially striking because it comes shortly after a major milestone for Zcash: Grayscale’s filing to convert its trust into an exchange-traded fund.
9 / 15
Zcash hit an all-time high of $750 on November 7. However, momentum began to shift just days later when the asset posted a lower high on November 15, signaling the first break in…
10 / 15
Technical analysis shows that the latest decline confirms a breakdown from a long-standing ascending parallel channel pattern.
11 / 15
A bearish double-top formation was confirmed at the most recent peak.
12 / 15
The price failed to reclaim the channel’s midline before breaking down.
13 / 15
Together, these signals suggest the bullish pattern that supported previous gains has been invalidated.
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The concern extends far beyond price action alone. Some of the most widely followed momentum indicators — the Relative Strength Index (RSI) and the Moving Average…
15 / 15
The RSI has dropped below 50, typically seen as the threshold between bullish and bearish momentum.
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