Zcash Price Crashes Below $500 After 37% Rally

Zcash (ZEC) saw its price rally by 37% in two weeks after deploying the Ironwood upgrade to testnet on July 2nd, breaching the $500-supply zone.

However, this upward momentum has since evaporated, with ZEC losing 13.6% of its value over the past week and down 3.1% in the past 24 hours alone.

The altcoin's price is now back below the $500-mark, sparking a question among traders: will this streak continue?

According to charts, ZEC's long-term trend is bullish, but momentum faces hiccups. The swing structure from $20.7 to $750 was bullish, but the downturn below $500 has been seen as a setback.