Sapling Upgrade Activates but ZEC Faces Bearish H&S Pattern By Cryptovest

 Zcash (ZEC) Technical Analysis: Sapling Upgrade Activates but ZEC Faces Bearish H&S Pattern Zcash (ZEC) Technical Analysis: Sapling Upgrade Activates but ZEC Faces Bearish H&S Pattern

Today Zcash announced the launch of their latest upgrade, Sapling, which dramatically improves the efficiency of “shielded transactions” that take place on the Zcash network. This new milestone development has been in the pipeline since early 2017 and its arrival was expected to draw significant attraction towards the project, but so far new investor support has been slow to appear.

Right now ZEC is down 2.33% against BTC as the crypto market slides in tune with shedding $150 today. Timing has been less than ideal for Zcash, as bullish sentiment departs from the market and investors appear to be recoiling into stablecoins.

Will we see a late bullish surge pick up once the crypto market recovers, or has Zcash missed its opportunity to draw in new investment? Let’s take a look.

On the 4hr chart we can see that the asset has fallen inside a bearish head and shoulders pattern (H&S) over the last te…

This article appeared first on Cryptovest

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