BitGuru Flags Zcash Resistance and Three Lower Price Levels

BitGuru’s Oct. 25 four-hour chart assessment described Zcash (ZEC) as bearish and put resistance at $1,220 to $1,270. The analyst wrote that the chart “still looks bearish, with $1,220–$1,270 acting as resistance.”

The assessment also listed $1,140, $1,090 and $1,040 as possible downside levels if selling pressure continues.

Ironwood activated on Zcash mainnet July 28 at block height 3,428,143, adding a shielded pool with a note format designed to support possible future fund recovery. The activation and pool were covered in an earlier report on Zcash’s shielded pools.

The format is intended to let a future protocol recover funds if Zcash needs to disable its current elliptic-curve-based protocols. That recovery protocol is not fully defined, and the format does not make current Orchard spends post-quantum secure.