Zcash ZEC/USD is closing the trading week near the area of 166. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Zcash. The Ichimoku Kinko Hyo signal line area test is expected near the 225 level, 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 April 2 — 6, 2018
An additional signal in favor of the fall of the cryptocurrency will be the 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 area 330, 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 level of support and closing below the area of 140.
However, we should not exclude the attempt to create a bullish model of the «Wolfe Wave». The target of working out this model is the area above the level of 640. In this case, after the test of area 90, quotes of Zcash can show the growth and completion of the bearish trend.