Zcash had a dramatic rally along with the rest of the crypto market. There is still not enough data to post a proper weekly analysis, but based on the rally and crash, major support and resistance levels can be drawn.
The $165 has proven to be a major support with some exceptions on the downside.
Falling below the blue zone under $140 should trigger stops on ZEC holders towards the 0.382 level at $117. RSI still has plenty of space on the downside.
If you plan to go long on this crypto, wait for the downtrend line to be broken. Stochastic is about to cross under 30. Watch for the Volume, it as been low the last 3 bars. This week volume should be high to confirm a trend reversal.
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