The cryptocurrency market experienced a significant decline over the past 24 hours after US inflation came in higher than expected. Zcash (ZEC) dropped approximately 15% and currently trades below $1,100, with its market capitalization falling to nearly $18.3 billion. Several analysts remain optimistic and view this correction as a buying opportunity, with one predicting a potential recovery to $1,600. The RSI indicator at 30 suggests oversold territory favorable for a rebound, although exchange netflows indicate increased selling pressure in the near term.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
