Bitcoin Tests Market’s Patience as Zcash Gives Holders Hope: Analysis
Bitcoin and Zcash are moving in opposite technical setups. Bitcoin recovered modestly to about $64.7K, but remains trapped in a $60K–$67K range after falling from near $80K in May to around $56K in June. It is still below the 200-day EMA near $66.5K, with a death cross in place, weak ADX, and neutral RSI, so the move looks more like a relief rally than a trend reversal. Zcash is stronger, trading around $520 after its Ironwood/NU6.3 upgrade and a recent sell-the-news dip. It has rebounded from a mid-June crash and now holds above both its 50-day and 200-day EMAs, forming a golden cross. RSI is mildly bullish, though trend strength is weak. A close above $525 could extend the recovery toward $560, while Bitcoin needs to reclaim $66.5K to confirm broader upside.
