ZEC remained under strong bearish pressure as price continued printing lower highs and lower lows, with trendline resistance capping recovery attempts.
At press time, Zcash traded near $245 after breaking below the $300 support, which has now flipped into resistance.
As momentum weakened, sellers pushed the price toward the $240–$244 support zone, marking the near-term downside target.
If this area fails, downside risk could expand toward the $200–$210 psychological zone, where deeper demand may emerge.
Meanwhile, resistance sits between $260 and $280, with $300 acting as the key structural barrier for any sustained recovery.
Although MACD compression and stretched price conditions hinted at oversold levels, any rebound required stronger volume and macro support.
Without that backing, relief rallies were likely to fade into renewed selling pressure.
Beyond price action, privacy-coin headwinds remained visible. Regulatory scrutiny and competition from newer privacy solutions continued to weigh on sentiment.
Bears retained control below $300, while a loss of $240 exposed ZEC to a deeper slide toward $200.
Demand rebuilds above $240 following capitulation
In the lower timeframe, Zcash [ZEC] completed a sharp capitulation move, declining from around $270 into the $238–$240 demand zone, where downside momentum began to ease.
This zone reflected prior accumulation, largely created by reactive buyers and short-term traders who previously absorbed sell pressure at these levels.
As price revisits it, the same participant cohort steps in again, reinforcing the floor.
At the lows, buyers responded firmly, printing a hammer candle with a long lower wick that rejected prices below $240.
That rejection shifted short-term order flow, as price stabilized instead of extending losses.
Two consecutive green candles then formed a higher low near $244–$246, strengthening early recovery signals.
Meanwhile, RSI hovered near oversold territory, reflecting stretched downside conditions rather than fresh bearish expansion.
The indicator’s modest uptick suggested that selling momentum was fading.
Price held above the $240 psychological level, pointing to dip demand strength as forced selling subsided.
Rebounds may now build toward the $260–$280 resistance zone, while a breakdown below $240 could accelerate losses toward $210.
While the broader trend remained bearish, this reaction zone highlighted downside compression as positioning gradually reset.
Final Thoughts
- Below $300, ZEC remains in a clear bearish structure with $240 acting as the key downside line before $200–$210 comes into play.
- Buyers are defending the $240 zone, but any recovery is capped unless the price reclaims the $260–$280 resistance range.
