Zcash is losing its position

The currency pair is the “loser” of the day as Zcash has lost nearly two percent in the past 24 hours. In general, it is still fluctuating with no clear direction as ZEC price has left the Ichimoku cloud but has no momentum. Zcash is in the middle of two levels. ZEC/USD is above the support area at $325.81 and below the resistance area at $366.65.

The possible scenarios for the currency pair are the following:

1. ZEC/USD will develop its downside progress and move towards the closest support area at $325.81 to test it.

2. Zcash will reverse and move towards the closest resistance area at $366.65. However, there is n obstacle on the way as we have an Ichimoku cloud above the price. Buyers will have to cross it first before they will be able to reach the closest resistance area.

3. ZEC price will remain unchanged with no significant volatility.

As for the daily chart, Zcash moves along the green ascending trend line and is above it. The currency pair is in the uptrend currently but seems to develop a correction.

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