Zcash (ZEC) is showing signs of stabilizing after a sharp decline from the over $700 peak, as the trading range narrows and the price approaches a key support level around $200. Previously, prolonged selling pressure caused the price to continuously decline throughout December and January, reinforcing a downtrend structure dominating the market.
However, the situation began to change when ZEC reached the $200 demand zone. Here, buying interest repeatedly absorbed the sell-off, helping the price avoid deeper declines. This strong defense triggered a roughly 13% rebound, bringing the cryptocurrency close to an important resistance area around $250.
From a technical perspective, momentum indicators still signal caution. The RSI hovers around 43, reflecting a neutral state as buying pressure gradually accumulates but is not yet strong enough to reverse the trend. Meanwhile, the MACD also shows signs of stabilization after a prolonged weakening phase.
Daily ZEC/USDT chart | Source: TradingView
Recently, ZEC’s price tested the $251 level—an overhead resistance zone coinciding with short-term moving averages. This indicates the market is currently “compressed” within the range between the $200 support and the $250 resistance.
Maintaining the firm hold above $200 suggests accumulation is ongoing. If the price can decisively break above $250, it could open up room for a new recovery phase in the near future.
ZEC tests $240 resistance as Fibonacci levels shape the rebound
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