<strong><em>ZEC price action shows a bullish failure to surpass $113, resulting in the inverted rounding bottom. Will the downfall breach $80?</em></strong>

Key technical points:
<ul>
 	<li>The ZEC market value deflated by 14.79% in the last 24 hours.</li>
 	<li>Sellers prepare to break below the neckline $80.</li>
 	<li>The 24-hour trading volume of Zcash is $159 Million.</li>
</ul>
<h2><strong>Past Performance of ZEC</strong></h2>
ZEC price action shows an inverted rounding bottom pattern, continuing the downtrend under the influence of a highly bearish resistance trendline. The downtrend accounts for degrading the market value by 60% and warns against the fallout of $80. Furthermore, the higher price rejection from $113 and the inverted rounding bottom pattern increase the chances of fallout.

<img src="https://s3.tradingview.com/snapshots/y/yuk0ltFq.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/yuk0ltFq/">Tradingview</a>
<h2><strong>ZEC Technical Analysis </strong></h2>
ZEC price has declined by 30% in the last three days and forms multiple bearish candles threatening the downtrend continuation. Therefore, traders can find selling opportunities at the present market price with a new bearish target at $65.

The bearish crossover of the MACD and Vortex indicators reflects a boom in selling pressure ready to fall under the crucial support at $80. Moreover, the Stochastic RSI indicator shows a bearish crossover leading to the falling trend in the K and D lines representing the start of the bear cycle.

Hence, the technical indicators represent a downtrend gaining momentum, ready to break under the $80 support level. However, traders can find price action confirmation as a better entry opportunity.

In short, the ZEC technical analysis showcases a huge fallout potential as sellers overtake the trend control.
<h2><strong>Upcoming Trend</strong></h2>
If sellers continue to pressurize the ZEC prices, a downtrend below $80 is inevitable and will drive the market value down to $65. However, a bullish reversal will increase prices to retest the $113 mark.

<strong>Resistance Levels:</strong> $100 and $113

<strong>Support Levels:</strong> $80 and $65

ZEC Technical Analysis: Inverted Rounding Pattern Soon To Crack $80

ZEC price action shows a bullish failure to surpass $113, resulting in the inverted rounding bottom. Will the downfall breach $80?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ZEC Technical Analysis: Inverted Rounding Pattern Soon To Crack $80

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