Zcash Plummets 24% - Private Token Faces Reality
Hold tight the hats of crypto warriors.®
$BTCZEC has just been knocked down 24% in one day, leading the decline among major coins and breaking through multiple support levels as if they did not exist.
Il Price Action: ZEC fell below EMA200, failing miserably to retest the downtrend. Hitting a one-month low, support regions were breached.
Il Historical Context: After skyrocketing to a record high in November, Zcash has begun to cool down. This correction is fierce but... not unexpected. Every rocket must come down before flying higher.
II Analyst Notes: Some chart experts warn - if EMA200 is not reclaimed, lower support regions will be the next target. Others shrug, believing this is normal in a larger uptrend.
The argument for privacy money remains intact
- after all, Zcash is not to be taken lightly, but to create private money.@
$ZEC / Forecast:
* Uptrend: Hold above the current support level → bounce at the midpoint → potential recovery to November levels.
* Downtrend: Fail at EMA200 → retest lower support → complete trend reversal. Volatility is coming. A TL;DR: Knocked for a loop, but privacy money is not dead. Watch support,
EMA200, and volatility - this is when market makers decide if Zcash will bounce or burn.
WhiteBIT Chart (5 Days): ZEC / USDT@
§ZEC got walloped, but private money isn't dead. Watch support, EMA200, and volatility - this is where market makers decide if Zcash bounces or burns.
#BTC #altcoins #season #ZECUSDT $ZEC $BTC