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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source

Let’s block ads! (Why?)


Source link

Previous Janet Yellen, Ex-Federal Reserve Chair, Graciously Accepts Gifted Bitcoin
Next On Bitcoin's 10th birthday, JP Morgan CEO says he doesn't 'really give a shit' about it

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *