Zcash, Pump.enjoyable and LayerZero prolonged decline as Bitcoin loses $65,000

The cryptocurrency market begins the week in panic mode, with altcoins Zcash (ZEC), Pump.enjoyable (PUMP), and LayerZero (ZR). Bitcoin falls under $65,000 because the US President Donald Trump regroups amid renewed commerce coverage dangers. The technical outlook for ZEC, PUMP, and ZRO factors to draw back threat amid elevated bearish momentum.

Zcash extends pullback after a bearish week

Zcash trades under $250, down 5% on the time of writing on Monday, extending the 18% loss from the earlier week and bringing the entire to roughly 30%. However, the 38.2% Fibonacci retracement degree at $231, measured from the August 20 low at $34.45 to the November 7 excessive at $750 on the day by day logarithmic chart, serves as fast help. 

A decisive day by day shut under this degree might lengthen the pullback towards the $187 help degree, which beforehand triggered a bounce on February 6. 

Still, the declining pattern within the 50-day Exponential Moving Average (EMA) at $317, approaching the 200-day EMA at $295, flags the chance of a bearish demise cross, which might set off a promote sign. Meanwhile, the Zcash worth is buying and selling under the declining EMAs, reaffirming a short-term bearish bias. 

The technical indicators on the day by day chart counsel a renewed bearish momentum as shopping for strain fades. The Relative Strength Index (RSI) at 37 falls towards the oversold zone as promoting strain will increase. At the identical time, the Moving Average Convergence Divergence (MACD) declines towards its sign line as optimistic histograms contract, risking a bearish crossover. 

On the upside, a possible rebound from $231 might retest the 200-day EMA at $295.

Pump.enjoyable slides additional amid persistent promoting strain

Pump.enjoyable extends a largely declining pattern, with practically a 7% loss at press time on Monday, under the essential psychological help degree of $0.002000. The path of least resistance targets the $0.001678 help degree, marked by the December 24 low, which beforehand helped in a rebound on February 6. 

A decisive shut under $0.001678 might lengthen the decline towards the S2 pivot level at $0.001199. 

The technical indicators on the day by day chart counsel a bearish bias amid rising promoting strain. The RSI at 39 edges decrease from the midway line with additional room on the draw back earlier than reaching the oversold zone. At the identical time, MACD crosses under its sign line, marking a bearish crossover. 

However, on the upside, the 50-day EMA at $0.002325 might function the fast resistance.

LayerZero lowers beneath strain as shifting averages cap restoration

LayerZero is down greater than 5% on the time of writing on Monday, approaching the $1.500 psychological help degree. The ZRO token trades under the 50-day and 200-day EMAs, that are in a bearish alignment, reflecting draw back strain. 

The 200-day EMA capped final week’s restoration on Sunday, prompting a 5% pullback under the 50-day EMA. The fast help for the DeFi token lies on the February 6 low of $1.356, adopted by a deeper help on the S1 pivot level at $1.177. 

The RSI at 42 reverses from the midway line as promoting strain grows, with additional draw back room earlier than reaching the oversold zone. The MACD and sign line lengthen under the zero line, as bearish histograms widen, reaffirming the surge in promoting strain. 

To reinstate an upward pattern, the ZRO token ought to surpass the 50-day and 200-day EMAs at $1.691 and $1.787, respectively.