Analyst: Zcash price target $840, cattle market trend continuing

The Zcash (ZEC) price target was set at $840 due to the continuing trend in cattle markets. The ZEC price recovered from the mid-week decline, returning to over $800, and the buyer defended the overall upward trend. However, excess purchasing power, weak capital flows and a long-term downside increase the risk of re-correction. On 26 August, the ZEC price was set at $767.91, which at one point fell to $760.30 because United States inflation data exceeded expectations. Subsequently, ZEC prices recovered to over $800 and on 28 August traded approximately $807, an increase of about 6 per cent over the Wednesday opening level. The rebound followed ZEC from a low of less than $500 in mid-August to an eight-year high of nearly $880. The four-hour graph shows that the strong increase began on 19 August, when the currency broke through a long-term consolidation of $480 to $520. ZEC is now entering a broadbanded integration zone of $760 to $850, and the fall on 26 August did not break the recent structure because buyers returned near the lower end of the zone。