ZEC coin price shows a higher price rejection from the $170 mark and projects the possibility of a head and shoulder pattern.

Key technical points:
<ul>
 	<li style="font-weight: 400">ZEC prices prepare a triangle breakout.</li>
 	<li style="font-weight: 400">The MACD and signal lines are merged below the zero line.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of ZCash is $182 Million, marking a 45% rise. </li>
</ul>
<h2>Past Performance of ZEC</h2>
ZEC coin price shows a failed bullish reversal from the $135 mark to surpass the $170 level resulting in a higher price rejection. Hence, with the increased selling, the downfall aims at the $135 support level if the 50-day EMA collapses. 

<img src="https://s3.tradingview.com/snapshots/u/ucyUU3tO.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/ucyUU3tO/">Tradingview</a>
<h2>ZEC Technical Analysis </h2>
As depicted in the daily chart, the ZEC token price shows a high possibility of a head and shoulder pattern. A retracement to the support will complete the bearish pattern with a neckline at $135. Moreover, a successful bearish breakout will result in a fall to the $120 mark.

The flattish crucial EMAs(50, 100, and 200) accentuate a sideways rally in ZEC price. However, the coin price trading above these EMAs gives the buyers an advantage.

MACD Indicator: The MACD and signal lines a bullish crossover offers a buy signal for interested traders. However, these lines fail to provide a significant spread and undermine the bullish momentum.

RSI Indicator: The RSI slope rose from the lower bearish region to the neutral mark. However, the indicator struggles to surpass this neckline, suggesting negative sentiment in the market.

In a nutshell, the Zcash technical analysis shows a potential fall under the $150 mark.
<h2>Upcoming Trend </h2>
ZEC coin price projects a bearish reversal within the bearish pattern as the daily candles show higher price rejection with long-wick formation. Hence, a selling opportunity arises at the current market price with a potential fall to the $135 mark. 

Resistance Levels: $170 and $200

Support Levels: $135 and $120

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ZEC Technical Analysis: Will Buyers Withhold $150 Barrier?

ZEC coin price shows a higher price rejection from the $170 mark and projects the possibility of a head and shoulder pattern.

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: Will Buyers Withhold $150 Barrier?

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