Zcash [ZEC]: Breaking down the potential effects of the current bearish structure - Aliens: AI Crypto News & Markets Updates
Logo
Logo

Feed

Coins

About

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

Zcash [ZEC]: Breaking down the potential effects of the current bearish structure

PublisherPublisher
AMB Crypto

Thu, May 19, 2022

Banner

Aliens TLDR

As the basis line (green) of the Bollinger Bands (BB) constricted the revival attempts for nearly seven weeks, Zcash [ZEC] bears pulled the altcoin down to yearly lows last week.

The basis line has crippled the buyers’ ability to sustain a close near the upper band of the BB.

On its way down, the price action underwent strong liquidations whilst the basis line of the BB constricted the bullish comebacks.

Consequently, the alt was down by nearly 67.42% (from 28 Mar) and dropped to hit its 16-month low on 12 May. After the $83-baseline posed some hurdles for the sellers, the bulls quickly provoked a short-term string of green candles.

Any close below the wedge could result in a pathway to its $96-zone lows.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

ProShares Launches First ETF to Short Bitcoin

The new exchange-traded fund will begin trading on the New York Stock Exchange on Tuesday under the ticker BITI.
Decrypt
·

2h

Bitcoin

Recommended Stories

Article

‘Expect pockets of forced BTC, ETH selling as market figures who’s swimming naked’

Article

Dogecoin Co-Founder Says Crypto Is House of Cards

Article

UK government walks back from controversial crypto data collection plan

Article

‘Like Coming Off Heroin’: How Bad Will This Bitcoin Bear Market Get?

Article

Unraveling the implications of still HODLing NEAR

Article

Small Cap Cryptos Bounce as Markets Attempt Recovery

Article

Heng Swee Keat: Stay Away from Crypto!

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise