ZEC price action shows a bullish failure to surpass $113, resulting in the inverted rounding bottom. Will the downfall breach $80? Key technical points: The ZEC market value deflated by 14.79% in the last 24 hours. Sellers prepare to break below the neckline $80. The 24-hour trading volume of Zcash is $159 Million. Past Performance of ZEC ZEC price action shows an inverted rounding bottom pattern, continuing the downtrend under the influence of a highly bearish resistance trendline. The downtrend accounts for degrading the market value by 60% and warns against the fallout of $80. Furthermore, the higher price rejection from $113 and the inverted rounding bottom pattern increase the chances of fallout. Source-Tradingview ZEC Technical Analysis ZEC price has declined by 30% in the last three days and forms multiple bearish candles threatening the downtrend continuation. Therefore, traders can find selling opportunities at the present market price with a new bearish target at $65. The bearish crossover of the MACD and Vortex indicators reflects a boom in selling pressure ready to fall under the crucial support at $80. Moreover, the Stochastic RSI indicator shows a bearish crossover leading to the falling trend in the K and D lines representing the start of the bear cycle. Hence, the technical indicators represent a downtrend gaining momentum, ready to break under the $80 support level. However, traders can find price action confi...
