📉 $ZEC /USDT 4H Analysis: Critical Resistance Test in Progress
Zcash (ZEC) has seen significant volatility recently, correcting sharply from the $529 highs down to a recent low of $330.75. Currently trading around $375.81, the price is attempting to stabilize, but the bears remain in the driver's seat. Here is the breakdown of the 4-hour chart:
1. Trend & Moving Averages (Bearish)
The trend is undeniably bearish. The price is trading below all key Exponential Moving Averages (EMAs), which are fanning out downwards—a classic sign of sustained selling pressure.
Immediate Resistance: The price is currently struggling to reclaim the EMA 7 (Yellow Line) at $376.95. This is the first hurdle for any relief rally.
Major Resistance: Even if we break the EMA 7, the EMA 25 (Purple Line) at $392.44 looms overhead as a strong dynamic resistance level.
2. Momentum Indicators
MACD: The MACD is in negative territory with the DIF line at -10.61. While the histogram shows some deceleration in selling, we have not yet seen a bullish crossover. Momentum still favors the downside.
RSI (6): The RSI is sitting at 36.85. We are hovering just above the "oversold" zone. This suggests that while the aggressive selling might pause for consolidation, there isn't massive buying momentum yet.
🎯 Key Levels to Watch
Support: The critical floor is the recent wick low at $330.75. If $375 fails to hold, we could revisit this liquidity zone.
Resistance: Bulls need a 4H candle close above $380 to invalidate the immediate bearish pressure and target a move toward $392.
Summary
ZEC is in a "wait and see" zone. It is technically oversold but lacks a reversal confirmation. Caution is advised until the price can reclaim the EMA 7.
Disclaimer: This is not financial advice. DYOR.