zcash

Zcash (ZEC) remains under strong selling pressure as the price continues to print lower highs and lower lows, confirming a sustained bearish structure. The prevailing downtrend remains intact, with the descending resistance trendline acting as a key barrier against any meaningful recovery attempts.
At the time of writing, ZEC is trading near $205, following a decisive breakdown below the critical $300 support level, which has now flipped into a major resistance zone. As bearish momentum persists, sellers have pushed the price closer to the $200 area, widely viewed as a near-term downside target.
If this support zone fails to hold, downside risks could expand further toward the psychological $200–$210 range, where stronger demand is expected to emerge based on historical price behavior.
Key resistance and support outlook
On the upside, immediate resistance is concentrated between $260 and $280, while the $300 level remains a structural ceiling that must be reclaimed to signal a sustainable trend reversal. Without a decisive break above this zone, any recovery is likely to remain corrective in nature.
Although certain technical signals — such as MACD compression and prolonged downside extension — suggest the market may be approaching oversold conditions, a durable rebound would require clear confirmation from increased trading volume and a more favorable macro or market-wide environment.
In the absence of these supportive factors, short-term price rebounds may quickly lose momentum and give way to renewed selling pressure.
Beyond technical factors, ZEC continues to face broader external challenges. Heightened regulatory scrutiny surrounding privacy-focused cryptocurrencies, along with increasing competition from newer privacy solutions, continues to weigh on market sentiment.
As long as ZEC remains below $300, bears retain control. A confirmed breakdown below $240 would significantly increase the probability of a deeper move toward the $200 region.
Demand recovery above $240 after a sharp sell-off
On lower timeframes, Zcash has recently completed a sharp decline from $270 into a demand zone around $238–$240. Within this region, downside momentum began to slow as buyers stepped in to absorb selling pressure.
This price zone reflects a prior accumulation area, where reactive buyers and short-term traders had previously absorbed supply during earlier pullbacks. As price revisited the same region, similar market participants quickly re-entered, helping establish a temporary price floor.
At the local bottom, strong buying interest produced a hammer candlestick with a long lower wick, signaling clear rejection of prices below $240. This rejection altered short-term order flow dynamics, allowing price to stabilize and avoid an immediate continuation lower.
Subsequently, two consecutive bullish candles formed, creating a higher low around $244–$246, reinforcing early recovery signals. At the same time, the Relative Strength Index (RSI) hovered near oversold territory, indicating exhaustion in selling pressure rather than the start of a fresh bearish expansion.
The ability to hold above the psychological $240 level suggests that demand remains active as forced selling pressure has eased. If sustained, the recovery could extend toward the $260–$280 resistance zone. Conversely, a clean breakdown below $240 would likely accelerate downside momentum toward the $210 area.
Market structure remains fragile
Despite the short-term stabilization, the broader trend remains bearish. The reaction around $240 highlights a temporary compression in selling pressure, as the market recalibrates positioning after an aggressive decline.
Until ZEC reclaims key resistance levels with strong confirmation, price action is likely to remain volatile, with downside risks still dominant within the current market structure.
This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research before making any investment decisions. The author is not responsible for any financial losses.
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