Zcash is trading at 58.72 and continues to move within the downward channel. ZEC/USD quotes move below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates a downward trend in Zcash. As part of the cryptocurrency exchange rate forecast for April 13, 2019. A test of the area of Ichimoku Kinko Hyo signal lines is expected near the level of 60.65. Where can we expect a rebound and an attempt to continue the fall of cryptocurrency with a potential goal below the level of 53.20.
Zcash Forecast and Analysis ZEC/USD April 13, 2019
An additional signal in favor of the fall in cryptocurrency ZEC/USD will be a rebound from the resistance area. The second signal will be a test more accurate than the border of the downward channel. Earlier, a weak signal was received for the SELL the Zcash cryptocurrency. The signal was formed due to the intersection of the signal lines at the level of 63.15. The nearest resistance area is at 68.45. The support area for ZEC/USD is located at 59.75.
Canceling the option of dropping Zcash quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above 64.65. This will indicate a change in the downward trend in favor of the upward trend and the continuation of the growth rate of the digital currency. Expect to accelerate the fall in quotations ZEC/USD stands with the breakdown of the support area and closing below the level of 55.15.
Zcash Forecast and Analysis ZEC/USD April 13, 2019 suggests an attempt to develop a cryptocurrency correction and a test level of 60.65. Where can we expect to continue the fall of Zcash with a potential target near the level of 53.20. Cancellation option reduction will make a strong growth and the breakdown of 64.65. This will indicate a continued upturn in ZEC/USD quotes with a potential target of 69.65.