$ZEC Short Liquidation: $3.4721K at $274.52 signals continued volatility as the market remains firmly in a corrective structure. Zcash is trading below its 7-day, 30-day, 50-day, and 200-day moving averages, confirming sustained bearish pressure across short-, mid-, and long-term timeframes. The recent breakdown below the primary pivot point further weakens structure, while the loss of key Fibonacci retracement levels suggests that sellers maintain broader control.
Momentum indicators reinforce this outlook. RSI is approaching oversold territory, indicating exhaustion in the current leg down and increasing the probability of a short-term relief bounce. However, MACD remains in bearish alignment with widening histogram bars, showing downside momentum is still active. The 24-hour range reflects compressed price action near session lows, while declining volume on minor rebounds points to weak buyer conviction. Net outflows also suggest capital rotation away from the asset.
Key support lies at $0.087, followed by the critical $0.084–$0.086 demand zone. A breakdown below this area exposes downside risk toward $0.079–$0.08. On the upside, resistance stands at $0.095–$0.100, with a stronger supply barrier at $0.107–$0.11.
While oversold conditions may trigger temporary rebounds, the broader trend remains weak until major resistance levels are reclaimed with strong volume confirmation. Trade cautiously, manage risk, and always DYOR.
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