Beat the clock
66% off! Crypto Currency Market Update: Dogecoin and Zcash Leads Crypto Market Losses
- Meme and privacy coins are back under pressure as Dogecoin drops toward key psychological support at $0.10.
- Zcash slips below the $300 mark, signaling renewed selling pressure in the short term.
- Technical indicators suggest downside risks remain, though broader signals still reflect a neutral-to-bullish undertone for ZEC.
The crypto market is having a rough week as meme coin Dogecoin (DOGE) and privacy-focused Zcash (ZEC) are among the top decliners. After three days of recovery, both coins reversed sharply on Sunday as critical resistance levels capped gains and triggered renewed selling.
Dogecoin Tests Key Psychological Support
Dogecoin declined more than 7% on Sunday,15 Feb and is now hovering above the crucial $0.1000 level. If selling pressure persists, DOGE could retest the October 10 low at $0.0950. A deeper correction may expose the February 6 low near $0.0800.
To regain bullish momentum, Dogecoin would need to reclaim the 50-day EMA at $0.1174. A decisive move above this level could pave the way toward $0.1332 resistance, aligning with the November 21 low.
Zcash Slips Below 200-Day EMA
Zcash fell nearly 8% on Sunday after failing to break above a key resistance trendline formed from late December and early January highs. The privacy coin has now slipped below its 200-day EMA at $298, a technically significant development.
Should ZEC rebound from current levels, a move back above the 200-day EMA could trigger a retest of the overhead trendline near the 50-day EMA at $337. A sustained breakout could extend gains toward $362, followed by the psychological $500 level.
With meme coins and privacy tokens leading losses, the broader altcoin market appears vulnerable to further volatility. Key moving averages and psychological price levels will likely determine whether this is a short-term pullback or the beginning of a deeper correction.
“As the market opens the week under pressure, DOGE risks losing the $0.10 psychological support while ZEC trades below $300, signaling growing downside risks for meme and privacy coins.”
