Zcash (ZECUSD) price recorded a decline in its latest intraday trading, as the key resistance level at $233.65 remains firm. This comes amid the dominance of a sharp short-term bearish sub-wave, while negative and dynamic pressure persists as the price trades below its 50-day SMA, limiting the chances of a full recovery in the near term. In addition, negative signals continue to emerge from the Stochastic indicator after reaching extremely overbought levels.

Therefore we expect the cryptocurrency price to decline during its upcoming intraday trading sessions, as long as it remains below the resistance level at $233.65, targeting the support level at $213.55.

Todays price forecast: Bearish