Zcash Price Holds Up as BTC Slips – Base or Bear Flag?

At 15:37 UTC on Friday, Zcash’s ZEC token traded at $1,240, up roughly 1.4% for the day, after dipping to $1,180 and rebounding from the lower edge of a six-day rising channel, a price range bounded by upward-sloping lines. That channel formed after an October drop from a $1,695 cycle peak to about $1,080, while the 50-day simple moving average near $1,310 continued to limit gains and the 14-day relative strength index stood at 49.7, near neutral. Bitcoin slipped this week toward a $76,000 support level. The Zcash network’s tenth anniversary fell on October 28, and an upgrade called NU7 was set for about November 5 with a planned reduction in target block times from 75 seconds to 25.