Zcash Falls 4.4%, Tests $1,140 Support After Breaking 50-Day SMA
- —ZEC is down 31% from its $1,690 peak, trading near $1,163
- —Support at $1,140 aligns with the 38.2% Fibonacci retracement
- —The 50-day SMA near $1,230 is the first hurdle for a rebound
- —Daily RSI near 42.6 signals weak momentum
Why it matters: Holding $1,140 keeps a rebound possible, but a daily close below would expose $970 and $882.
Source: Coindoo