Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.

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Alright, let's get straight into the discussion, happy reading!!

Zcash(ZEC) Analysis

Today, October 21, 2022, I will try to technically analyze the price movement of Zcash.

SOURCE: TradingView

If we look at the price movement of ZEC in general, we can see that ZEC is in a very deep bearish phase. We can see this in the ZEC price movement pattern in the chart above where the candlestick tends to move downwards if we look closely.

SOURCE: TradingView

The chart above also shows that the current bearish trend in the ZEC/USD market will continue for the next few days because the ZEC price has broken the Support Level.

SOURCE: TradingView

This is confirmed by the EMA Indicator with a Death Cross occurring between the 100 EMA and 200 EMA.

SOURCE: TradingView

Further confirmation was also given by the ADX indicator with the presence of a cross between the two DI lines where the DI- line moved above the DI+ line.

SOURCE: TradingView

Not to forget, the RSI indicator shows that there will be an oversold phase soon in the ZEC/USD market, we can prove this by moving the RSI line to the Lower Band which is the lower limit of the RSI indicator.

Disclaimer: