Zcash Faces Bearish Trendline Break with Potential Downside

Zcash has experienced a significant bearish technical breakdown after breaching a crucial long-term trendline, suggesting a potential 34% decline. According to NS3.AI, despite this bearish outlook, large holders have been accumulating ZEC, and exchange balances have decreased. Additionally, short interest is heavily skewed, indicating the possibility of a short squeeze. Should Zcash manage to recover above key levels, bears could be caught off guard, potentially leading to a swift upward movement. Conversely, a drop below $329 would confirm the downside target near $255.