Zcash (ZEC) fell 5% on Wednesday, February 11, failing to reclaim the $330 resistance zone and testing key support near $140, according to the crypto analyst Marcus Corvinus. The token’s persistent downtrend has been closely watched by traders as selling momentum strengthens.
Zcash (ZEC) remains under firm bearish control, printing lower highs and lower lows on the daily chart, confirming a sustained downtrend.
Sellers dominate the broader structure, preventing any meaningful recovery. Momentum favors the downside, with price action reflecting continued weakness rather than accumulation or early signs of a macro reversal.
The recent attempt to reclaim the $300–$330 supply zone ended in a decisive rejection. This area, once a strong support base, has now flipped into heavy resistance.
Bulls failed to establish acceptance above it, reinforcing bearish continuation and signaling that market participants are using rallies to distribute positions.
Also Read: Zcash (ZEC) Tests Descending Triangle Support After Sharp 24-Hour Sell-Off
Zcash (ZEC) Could Reclaim $330 or Slide to $130
The map of support lines indicates the spine of seller influence, where momentum is not waning but expanding. The latest bounce has a tamed pulse and appears corrective in nature.
Unless the structure changes, any bounces remain vulnerable, and any rally that fails to break through resistance levels can quickly experience further rounds of selling pressure.
Source: Marcus Corvinus X Post
Looking forward, the next significant demand zone is between the $140 and $130 levels, where liquidity could potentially result in a stronger move.
However, to talk about a trend reversal, it would need to reclaim the $300 to $330 levels on a clean note. Until such a move is seen, the path of least resistance for ZEC remains on the downside.
ZEC Technical Outlook Points to Corrective Phase
According to TradingView, as of Wednesday, February 11, on the weekly chart, ZEC is still in an uptrend but undergoing a significant correction from a strong move up towards the $700 range.
The current price of ZEC is at $226, trading below its 20-week moving average and gradually approaching its 50-week average at $180. However, despite the correction, the coin is still trading above its longer-term averages.
Source: TradingView
The momentum has eased considerably, as the RSI has dropped down to around 44 from its overbought levels of more than 70, where it was previously seen topping the market.
It is currently below the 50 mark, indicating bearish short-term momentum but still not quite oversold. It is important to stay above the 50-week average; otherwise, the market may fall to lower support levels.
Also Read: Zcash (ZEC) Price Outlook: Could $300–$400 Bounce Trigger a Reversal?
