Zcash (ZEC) has tumbled 13% in the last week, trading at 322 USD, facing a critical support level at 310 USD. A breach below this could trigger a 35% decline. Trading volume has also slipped by 12% to 450 million USD, revealing increasing trader apprehension.
The ongoing bearish trend sees lower highs and lows forming. Traders are heavily positioned in short-leveraged positions as the market sentiment remains pessimistic, indicating potential future declines for ZEC if it fails to maintain its support levels.
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