Zcash ZEC/USD is trading at 249. The cryptocurrency is trading below the lower boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Zcash. Ichimoku Kinko Hyo signal line area test is expected near the level of 260, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target below the level of 200.
Zcash forecast & analysis ZEC/USD May 14, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, we received a weak signal for sell of Zcash cryptocurrency, due to the crossing of signal lines at the level of 300.
Cancellation of the variant of the drop in Zcash quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 280, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ZEC/USD stands with the breakdown of the support area and closing below the level of 220.