Zcash (ZEC) is positioned within a major daily demand zone, after several weeks under a persistent descending trendline. According to the crypto analyst Nehal, traders are closely watching this area, which may determine the next price direction.
This zone represents a potential accumulation point, where buyers could step in if support holds, making it a critical decision area for market participants.
Technical analysts identify strong support between $190 and $210, a level that has historically attracted buying pressure. Some traders anticipate a possible liquidity sweep, a short-term move designed to trigger stop-loss orders, before a reversal.
Such patterns are common in crypto markets and can provide opportunities for disciplined buyers, highlighting the importance of monitoring order flow and volume at these key levels.
Also Read: Zcash (ZEC) Moves Toward Key Resistance as Technical Signals Align
ZEC Trendline Break Could Trigger $400–$600 Rally
If ZEC maintains support and breaks above the descending trendline, mid-term price targets could range from $400 to $600. This scenario suggests significant upside potential for patient investors. Conversely, failure to hold support may trigger a continuation of the downtrend.
Market watchers emphasize careful timing, risk management, and watching for confirmation before entering positions.
Source: Nehal X Post
The $190-$210 range marks a crucial juncture for Zcash investors. The question for investors and traders alike is whether they should buy in now or wait for a further pullback.
The coming days will determine the direction of the market momentum. Investors need to be patient and strategic in their planning because the next big moves could chart the course for $ZEC in the coming weeks.
ZEC Momentum Indicators Point to Cautious Outlook
According to TradingView, the RSI (14) is currently at 36.29. It is evident that it is still in a bearish environment because it is still hovering around the oversold region of 30.
Although it is seen that there is a small upward curl, it is still below its yellow line. It is evident that although selling pressure is slowing down, the bears still control it.
Source: TradingView
The MACD indicator also supports this bearish view since the MACD line and the signal line are trending well below the baseline. The MACD line at -9.41 is moving further away from the signal line.
The red color of the histogram bars also supports the idea of the accelerated bearish trend. There is no bullish crossover yet, indicating the trend is still strong on the downside.
Also Read: Zcash (ZEC) Could Break Above the Bearish Channel or Continue Falling
