On the Zcash side, a different technical indicator was reported to be sounding the alarm. Martinez stated that the dots on the Parabolic SAR indicator had crossed above the price, indicating a downward trend. Previously, a similar signal had led to a 54% correction in the $ZEC price. Noting that Zcash has fallen by 25% so far, the analyst said that if the $1,100 support level is broken, the $850 level could come into play.
The third altcoin the analyst warned about was $BNB. Martinez noted that the SuperTrend indicator on the daily chart had turned into a sell signal, recalling that a previous similar signal had resulted in a 26% drop. Stating that the $BNB price has fallen by 8% so far, the analyst said that if the $710 support level is lost, $680 could be the next target.
*This is not investment advice.
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