# Crypto Technicals: ZCash extends weakness below 200-DMA, tests 78.6% Fib, bias bearish

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/2947
Published: 2019-08-07T11:53:53.000Z
Updated: 2019-08-07T11:53:53.000Z
Section: Investing

> Support: 55.85 (Apr 29 low); Resistance: 64.48 (5-DMA)

[ZEC/USD](<https://www.tradingview.com/symbols/ZECUSD/>) chart - Trading View

Exchange - Kraken

Support: 55.85 (Apr 29 low); Resistance: 64.48 (5-DMA)

Technical Analysis: Bias Bearish

ZCash extends downside below 200-DMA, tests 78.6% Fib at 61.92.

ZEC/USD pair has broken strong trendline support at 65, hit 12-week lows at 60.87.

Momentum studies are highly bearish and volatility is rising. Scope for further downside.

Next major support lies at 55.85 (Apr 29 lows ahead of 53.95 (88.6% Fib).

Immediate resistance lies at 5-DMA at 64.48. Retrace above 200-DMA (69.03) negates near-term bearishness.

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## Links in this article

- [ZEC/USD](https://www.tradingview.com/symbols/ZECUSD/)
- [TokenPost](https://www.tokenpost.com)