$ZEC ZEC Bounce Appears Technical, Not a Shift in Trends
Zcash (
$ZEC ) is trying to recover, but the action appears to be mainly technical and not indicative of a significant trend change. Price action shows weak momentum and remains restricted beneath significant resistance levels, allowing sellers to maintain control over the short-term framework.
ZEC is currently trading just a bit above the EMA7 and SMA7, yet it stays significantly below the 200-period moving average, an important threshold for validating trend direction. If this zone is not reclaimed, upward moves are expected to encounter selling resistance.
The $245–248 range is prominent as a definite supply zone, where past price movements indicate significant distribution. A rejection in this area would probably lead to a decline toward lower support levels.
Momentum indicators reinforce the negative outlook. RSI near 52 indicates neutral conditions instead of strength, while MACD stays negative, suggesting poor follow-through and an absence of bullish confirmation. These circumstances indicate that the recent rebound is corrective rather than impulsive.
Trade Configuration – Bearish Outlook
Input: $241 – $247
Stop Loss: $255
Targets: $233 → $225 → $210
A decisive move and consistent position above $255 would negate the short setup and suggest a possible structural change. Until that occurs, rallies against resistance should be seen as chances to sell.
Final Thoughts:
ZEC's recovery shows insufficient volume, momentum, and structural validation. As long as the price stays under significant resistance, further declines remain the more likely outcome.
Bias remains low under $255.
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