Bitcoin Tests 200‑Day EMA; Zcash Rallies After Ironwood

Bitcoin is trading in a roughly $60,000–$67,000 band after a May high near $80,000 and a June low near $56,000. The 50‑day exponential moving average sits below the 200‑day EMA, creating a death cross. Price is testing the 200‑day EMA near $66,500 but has not closed decisively above that level.

Momentum indicators point to a lack of a clear trend. The Relative Strength Index is just above neutral in the low 50s and the Average Directional Index reads in the low teens, indicating weak trend strength. The Squeeze Momentum indicator shows a coil forming that historically resolves more often in the prior trend direction.

Near‑term technical levels: a daily close above the 200‑day EMA and the leg high just under $67,000 would be needed to confirm a breakout. On the downside, a break below a nearby golden‑zone low at $64,057 would expose $63,778 and could reopen the path to the June bottom near $56,000.

Zcash activated the Ironwood upgrade, also called NU6.3, on July 28 at block 3,428,143. The upgrade revised the protocol’s privacy architecture and patched a previously disclosed vulnerability. ZEC traded lower on activation before buyers returned; the token has risen and is trading near $520.

Zcash technicals differ from Bitcoin. The 50‑day EMA sits above the 200‑day EMA, forming a golden cross. Current price is above both averages. The RSI is in the mid‑50s, the Squeeze Momentum indicator is inactive and the ADX is in the low teens, which points to limited trend conviction. Intraday action has shown gains of about 5% over 24 hours with the latest session up roughly 3%.

Key ZEC levels include an immediate upside threshold at the $525 leg high, then resistance near $560 and $600 and the April peak close to $680. Support is the 50‑day EMA near $504 and the 200‑day EMA near $488, with a lower band between about $478 and $416 if selling intensifies.

Market participants cite several factors that have weighed on conviction across crypto. The Federal Reserve’s policy rate at 3.5%–3.75% has left some investors waiting for clearer signals. Separately, public concern about quantum‑computing threats to cryptography and a recently disclosed Coldcard wallet exploit have raised questions about custody and security, adding caution to trading behavior.