Zcash Drops 21% From Recent High—Here’s Why the Rally May Not Be Over
Zcash Drops 21% From Recent High—Here’s Why the Rally May Not Be Over
If the slide continues, those lines will converge, which is usually how a trend change first shows up. That said, for that to occur, Zcash would need a sustained, rapid crash—which is unlikely to happen soon.
Rally over, or a dip to buy?
A 21% drop after a 253% sprint isn't unusual. In June, ZEC dropped from $635 to an intraday low of $309 when a critical vulnerability in its shielded pool was disclosed. It then went on to climb past $1,600.
So the chart reads like a correction, not a collapse, at least for now. The trend indicators haven't flipped, but momentum has cooled and the ETF just...