Zcash Crypto Breaks Bearish Streak, Eyes Recovery After Major Upgrade
Key Insights:
- Zcash crypto concludes a week of sustained daily red candles but has been pivoting in the past 24 hours.
- The Zcash network prepares for a major upgrade this week, which will fix a major flaw while improving onchain verification.
- ZecMap reveals that Zcash could soon be used to purchase real estate.
The Zcash crypto price briefly recovered above $500 in the past 24 hours, signaling that the bears might be losing their grip. They were previously at the helm for 7 consecutive days, delivering one of the ZEC’s most bearish weeks in recent history.
The current analysis shows that Zcash crypto price tanked by 8.5% last week, falling from $517 to $473. More notably, the decline unfolded over seven consecutive sessions, with Zcash posting seven straight daily red candles.
ZEC price hovered at around $504 at press time, which was equivalent to a 3.8% daily price gain. It was on track to conclude the day with a green candle to kick off the new week. That positive turn could mark the end of last week’s bearish streak.
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