Zcash ZEC/USD is closing the trading week near area 278. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Zcash. The test area of Ichimoku Kinko Hyo signal lines near the level 315 is expected, from which it is expected to rebound and continue the development of a bearish trend in the cryptocurrency with a target near level 120.
Zcash (ZEC/USD) weekly forecast on March 12 — 16, 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, a strong signal was received for sell of Zcash cryptocurrency, due to the crossing of signal lines at level 365.
Cancellation of the variant of the drop in Zcash quotations will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the 480 area, which will indicate the change of the bearish trend in favor of the bullish trend. To expect the acceleration of the fall in quotations ZEC/USD stands with the breakdown of the support level and the closing below the area of 220.