Zcash Price Breaks Down Below $500, Bearish Pattern Hints At 27% Decline Ahead
BeInCrypto
Zcash price broke below $500, confirming a bearish ascending wedge pattern that suggests a potential 27% decline toward $363.Summary
Zcash (ZEC) price has sharply declined, breaking below the $500 support level and confirming a bearish ascending wedge pattern, which suggests a potential 27% correction targeting $363. Derivatives data shows a dense cluster of long liquidations between the current price and $430, which could accelerate the decline if triggered. However, on-chain indicators present a mixed outlook; the Chaikin Money Flow (CMF) is showing a bullish divergence, indicating potential accumulation by larger holders despite the price drop. If accumulation strengthens, ZEC might bounce off $442 to retest $500, but sustained selling pressure below $403 would invalidate any bullish reversal hopes.
(Source：BeInCrypto)