On the price action side, the ZEC isn’t that exciting either. In fact, it’s just been hanging below the daily Ichimoku Cloud, around a key support of $51 for the past month. If the majority investing crowd lose their faith in the crypto for one second, it could start dropping like it’s hot towards the all-time-low level of  $27.

Chart

On the flip side, if this support holds and ZCash believers start to pile up, we could see a brand-new bullish market sentiment that could take ZEC/USD above the Ichimoku cloud and towards the 23% Fibonacci level of $228.

 


 

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