Zcash Price Faces Potential Downward Trend: Breakdown Signals Warning

The cryptocurrency market is experiencing heavy selling pressure, with both Bitcoin and Ethereum witnessing drops of over 1.5% in the last 24 hours. The resulting market-wide liquidations exceeded $1.69 billion, with long positions suffering significant losses of over $1.45 billion during this period. This volatility has impacted Zcash (ZEC), a privacy token experiencing a drop of more than 23% following a key structural breakdown in its price chart.