Zcash (ZEC) price it has regained $350 after a crash in recent weeks, trading around $357 as buyers stepped in to protect the sale. The cryptocurrency came under intense pressure after the news that Orchard was in jeopardy dented market confidence, prompting aggressive profit-taking and sending ZEC below the key $300 level.
However, the sharp decline attracted buying interest in the lows, resulting in increased trading and a quick pullback above $350. While this recovery has eased the pressure to sell, the risk is not over yet. The recent move appears to be a relief rather than a reversal of the confirmed trend, making the next few sessions more difficult for ZEC price rallies.
Zcash (ZEC) Price Analysis
ZEC declined slowly from the $600 area before finding support around $298. The broader recovery that follows shows strong buying interest at lower levels, but the price remains below the key resistance area around $393. Meanwhile, the MACD continues to remain in bearish territory although it shows stability, while the Stochastic RSI has returned to the middle range, showing improvement but not yet significant.
- The whole situation changed dramatically after the breakdown of the $600 area.
- Heavy selling pushed ZEC to major support near $300, as buyers entered aggressively.
- The next iteration pushed the price above $350, indicating short-term demand.
- Trading volume increased significantly during the downtrend and recovery, reflecting the market’s uptrend.
- Despite the recovery, the price remains below the same resistance at around $393, preventing the confirmation of a strong change.
- The MACD continues to show bearish strength, which means that the sellers have not been able to correct.
- Stochastic RSI has recovered from oversold conditions, suggesting short-term buying power but not long-term stability.
- Unless buyers retrace resistance levels, the current move may remain a temporary relief within the correction zone.
Finally: What to Expect Next?
The next move in the Zcash price will depend on whether buyers can convert the current recovery into a break above $392.83. A successful retracement of this level could boost sentiment and open the door to the $680–$714 resistance zone in the coming weeks. However, failure to overcome this barrier could create the risk of a new sell-off, with $298 being an important support to watch.
For the rest of the month, ZEC is expected to remain flat. As long as it works above the support of $298 and eventually recovers at $392.83, the bullish momentum can strengthen and target higher resistance levels. Conversely, a loss of support at $298 would create a recovery issue and could lead to another leg of the decline before it starts.
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