$ZEC is at $275.59 on the 4H and the recent price action has been dramatic. After grinding along the lows between $195 and $250 for most of February and early March, price exploded higher — running all the way from $230 to $325 in just a few sessions before hitting the grey supply zone at $320–$331 and getting sold hard. That rejection from the grey zone was swift and aggressive, and price is now back at $275 trying to find its footing.
The grey supply zone at $320–$331 is the wall that matters. It's where sellers have been living since the January highs and the rejection from it last week was a reminder that zone hasn't been cleared yet. The "XX" accumulation area around $250–$265 is where the launch came from and that's the support to watch now that price has pulled back.
The projected move on the chart is bearish from here — a continuation lower toward $225–$230, which would be a full retracement of the entire breakout move. That's a significant scenario and it hinges on whether $250–$261 holds as support on the way down. Losing those levels on a 4H close removes the last floor before the move extends.
What to Watch
Key support: $250.98 and $261.75
Key resistance: $320–$331 grey supply zone
Liquidity zone: $275.59 current price — mid-point between supply and support
Confirmation: Hold above $261.75 keeps recovery possible, 4H close below $250 targets $225–$230
Quick Insight
$ZEC made a massive move, hit the supply zone, and got rejected hard. The speed of the reversal from $325 back to $275 in just a few candles suggests sellers were very prepared at that level. $250–$261 is the line — hold it and this is a healthy retest, lose it and the entire move unwinds.