Zcash ZEC/USD completes the trading week near the area of 121. Cryptocurrency is trading below the lower border of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in Zcash. The current trading week is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near 130, from where we can expect an attempt to rebound and continue the development of a bearish trend with a target below the level of 90.
Zcash weekly forecast October 29 — November 2, 2018
An additional signal in favor of the cryptocurrency fall is the test of the upper limit of the Triangle model, as well as the test of the resistance level. Earlier, a weak signal was received for BUY the Zcash cryptocurrency, due to the crossing of signal lines at the level of 120.
Cancellation of the option of falling quotes ZEC/USD will be a breakdown of the upper boundary of the indicator cloud and close above 135, which will indicate a change in the downward trend in favor of the bullish trend. Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the model «Triangle» and closing below 100.
Zcash weekly forecast October 29 — November 2, 2018 suggests an attempt to develop a correction to level 130, from which we should expect a rebound and a continuation of the fall of cryptocurrency with a potential target near the level of 90.