ZCash (ZEC) is offering a potentially attractive short-term opportunity for traders after recent turbulence, with Fibonacci retracement levels pointing to $320–$357 as key upside targets. What happened - Over the past week ZEC slipped about 6.68%, and perpetuals markets saw roughly $52 million of capital exit, a sign of significant leverage-driven stress and large liquidations that underlined recent volatility. AMBCrypto reported these flows. - Despite headwinds, longer-term fundamentals showed positives: growth in shielded supply and shielded transactions continues to reinforce ZEC’s privacy narrative. - Market-wide sentiment could improve if Bitcoin breaks decisively above the $70k local supply zone, which would likely lift short-term confidence across altcoins. Technical picture — mixed signals - Daily indicators are cautious: RSI sits near 43 (mildly bearish) and On-Balance Volume has trended down without meaningful new highs this month, suggesting selling pressure and that these indicators remain lagging. - Price action tells a more nuanced story. TradingView charts show ZEC tested and defended a prior imbalance around $250 and local resistance at $251 over the past two days. The long-term support at $187 also held, prompting a bounce toward $320 before a pullback. - On the 4-hour chart the structure has flipped more bullish after reclaiming $251 as support (this level acted as a supply zone a couple weeks earlier). That flip opens the door for a deeper retracement even if the dominant swing remains bearish. Key levels and trade ideas - Fibonacci retraces: The 61.8% and 78.6% retracement bands form a “golden zone” for entries — these coincide with the $320 and $357 resistance levels highlighted by price action. - Possible approaches for traders: - Low-risk long: consider entries near $260 targeting $320 and $357, with clearly defined stop-losses below recent support. - Contrarian play: wait for a rejection from $357 as a potential shorting opportunity if price fails to break higher. - Note: trading volume is currently low, so participants should be cautious about false breakouts and use disciplined risk management. Bottom line ZEC’s short-term outlook is a balance of guarded optimism and real caution. Reclaims of $250–$251 and a bounce from $187 support create room for a retracement toward the Fibonacci “golden zone,” but weak volume, on-chain outflows from perpetuals, and lagging momentum indicators mean volatility remains likely. Traders should combine price structure with strict risk controls and watch broader market cues — especially Bitcoin’s behavior around $70k. Disclaimers This article is informational and reflects the writer’s opinion. It does not constitute financial, investment, or trading advice. Cryptocurrency trading is high-risk; do your own research before making any decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news

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