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Zcash’s rally faces a test as a rising wedge pattern signals a possible 30% pullback toward the $260–$270 support zone in November.
💡 DMK Insight
Zcash’s current rally is under scrutiny, and here’s why that matters: a rising wedge pattern often precedes a significant pullback. Traders should keep an eye on the $260–$270 support zone, as a 30% correction could materialize if the wedge pattern plays out. This isn’t just about Zcash; a pullback here could ripple through the broader altcoin market, especially for assets that correlate with Zcash’s price movements. If Zcash breaks below this support, it could trigger stop-loss orders and further selling pressure, impacting sentiment across the crypto space. So, watch for volume spikes around this support level—those could signal whether buyers are stepping in or if sellers are gaining control.
📮 Takeaway
Monitor Zcash closely; a drop below $260 could trigger a 30% pullback, impacting broader altcoin sentiment.
