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ZEC/USD chart - Trading View
Exchange - Kraken
Support: 55.85 (Apr 29 low); Resistance: 64.48 (5-DMA)
Technical Analysis: Bias Bearish
ZCash extends downside below 200-DMA, tests 78.6% Fib at 61.92.
ZEC/USD pair has broken strong trendline support at 65, hit 12-week lows at 60.87.
Momentum studies are highly bearish and volatility is rising. Scope for further downside.
Next major support lies at 55.85 (Apr 29 lows ahead of 53.95 (88.6% Fib).
Immediate resistance lies at 5-DMA at 64.48. Retrace above 200-DMA (69.03) negates near-term bearishness.
