๐ $ZEC Under Heavy Pressure: Bears in Full Control on 4H Chart ๐ปโ ๏ธ
Zcash (ZEC/USDT) is facing intense selling pressure, and the technical picture on the 4H timeframe looks decisively bearish ๐๐ฅ.
๐ด Current Price: $219.65
๐ 24H Change: -19.75%
๐ 24H Range: $216.29 โ $274.60
๐ฐ 24H Volume: $128.17M USDT
๐ Technical Breakdown
๐ $ZEC has been in a clear and persistent downtrend, printing lower highs and lower lows with strong bearish momentum.
๐ Moving Averages Tell the Story:
๐ก MA(7): 248.12
๐ฃ MA(25): 277.89
๐ต MA(99): 336.36
โก๏ธ Price is trading well below all major MAs, confirming strong bearish dominance ๐จ
โก๏ธ Every bounce is being sold into โ๐
๐ Volume Confirms Panic
๐ฆ A sharp spike in red volume shows capitulation selling and panic among late buyers ๐จ
๐ด Selling volume is overpowering any bullish attempts
โ ๏ธ This kind of volume often appears near breakdown or exhaustion zones
๐งฑ Key Levels to Watch
๐ข Immediate Support: $216 โ $207 zone
๐ป A clean break below this could open the door to much lower levels ๐๐ฅ
๐ด Resistance Zones:
โข $247 โ $250
โข $288 area (previous structure + MA resistance)
Any upside move will likely face heavy selling pressure ๐งฒ๐ป
๐ง Market Context
๐ Performance Snapshot:
โ 7 Days: -41.78%
โ 30 Days: -55.61%
โ 90 Days: -58.88%
This confirms ZEC is in a deep corrective phase, despite strong long-term gains on the yearly chart ๐โณ.
โ ๏ธ What to Expect Next
๐ป Trend remains bearish until proven otherwise
๐ No clear reversal structure yet
๐ง Traders should wait for base formation or bullish confirmation before considering longs
For now:
๐ป Trend-following favors the bears
๐ Catching falling knives is risky
๐ Stay patient. Stay disciplined. Let the chart speak.
#ZEC #zcash #CryptoAnalysis #BearMarket #TechnicalAnalysis
