Crypto
Zcash Teeters on Trendline Support: Can Bulls Defend $480?
Zcash has retreated from its recent highs and is currently testing a key trendline support at $480.
This ascending trendline is a long-term indicator that has been supporting the Zcash price throughout its uptrend.
The bulls are facing a challenging situation as bullish momentum weakens, but they still have an opportunity to reclaim the $550 resistance if they can successfully defend this support level.
If the trendline fails and ZEC breaks below it, it could expose the cryptocurrency to a deeper correction towards lower support levels around $340-$350.