Crypto Technicals: ZCash retests 200-DMA support, weakness likely on break below

ZEC/USD chart - Trading View

Exchange - Kraken

Technical Analysis: Bias Bearish

Support: 68.23 (200-DMA), 63.50 (trendline support), 61.92 (78.6% Fib)

Resistance: 73.24 (5-DMA), 74.38 (200H SMA), 75.31 (61.8% Fib)

ZCash retests 200-DMA support, break below will see further downside.

Technical indicators are bearish. Price action grinds lower below 200H SMA.

Stochs and RSI are sharply lower. MACD and ADX supports weakness.

GMMA has shown short-term MAs have broken below long-term MAs, bias lower.

Major moving averages have turned lower. Scope for further weakness.

The pair's recovery capped at 110-EMA, break below 200-DMA will see drag till 78.6% Fib at 61.92.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.