Zcash ZEC/USD is closing the trading week near the area of 176. 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 245 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 90.
Zcash (ZEC/USD) forecast on March 19 — 23, 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 falling of quotations of Zcash will become a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations above the area of 400, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ZEC/USD is with a breakdown of the support level and closing below the area of 150.
However, we should not exclude the attempt to form an bullish model of «Wolfe Wave». The target of working out this model is the area above the level of 640. In this case, after the test area of 90, quotes can show the growth and completion of the bearish trend.
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