ZEC fell 32% in a week, with technical indicators signaling further downside.

Source: TokenPost Original Title: Zcash ( $ZEC ), dropped 32% in a week… warning of further declines due to technical collapse. Original Link:

Current Status of the ZEC Market

Z Cash ( ZEC ) continues to decline under weak technical signals. It has dropped 32% in the past week and over 20% in the last 24 hours, with the current trading price around $365.

Key Support Line Break

The recent decline occurred alongside the collapse of the core support range:

• 50-day Simple Moving Average ( SMA ) at $480
• Horizontal support level at $480
• Fibonacci retracement level 38.2%

The price has dropped to the first liquidity zone centered around $400.

Technical Indicator Alert

Analyst Ardi pointed out the failure of the breakout of the Relative Strength Index ( RSI ) and warned that “after the support line breaks, only a 5% price fluctuation will lead to consecutive forced liquidations of long positions.” This further amplified the selling pressure.

The MACD oscillator has broken below the signal line, and the histogram's negative bars are expanding, indicating that the selling pressure is increasing. The Money Flow Index ( MFI ) is holding at the level of 35, still in the weak zone.

Next Target Position

Ardi pointed out that another liquidity zone at $370 has also seen some short covering. If this level is breached, the next major support range will be $297-$311, which corresponds to the Fibonacci level of 61.8% and a historical area of dense trading.

Market View Discrepancy

Analyst Ali Martinez stated that the price has fallen below the existing support line of $440 again, raising the question of “rebound or further collapse.” Notable Bitcoin supporter Max Keiser expressed a strong opinion, stating that “the pump and dump of ZEC has ended,” predicting a return to $55.

However, Grayscale is reportedly advancing its plan to convert its Zcash trust into an ETF. If the ETF is approved, investors could gain exposure without directly holding the tokens, which may become a factor for increased demand.

Technical Indicator Terms

• RSI( Relative Strength Index ): A technical indicator that shows the overbought/oversold status of an asset.
• Fibonacci Retracement: A tool for predicting potential support and resistance levels based on historical key price points.
• MACD: An indicator that captures trend reversal points by analyzing the difference between moving averages.