\n\t\t\t\t\t\t\t\t\tZcash (ZEC) plunges 32% in a week as RSI breaks down and key support levels fail. Analysts warn of further downside toward $300.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Zcash is under pressure after a steep price decline, falling more than 32% over the past week. The token is trading around $365 after dropping over 20% in the last 24 hours. The move follows the loss of key support levels, with traders watching whether the downtrend will continue.<\/p>\n
ZEC had recently posted strong gains, rallying from $40 to $700 in just a few months. The current pullback, however, suggests that the trend may have shifted, with momentum now favoring the downside.<\/p>\n
Key Technical Levels Breached<\/h2>\n
ZEC lost several important levels in a short period. The breakdown below the 50-day simple moving average, the $480 horizontal support, and the 38.2% Fibonacci retracement opened the door to further declines. As a result, the asset fell into the first major liquidity area around $400.<\/p>\n
Crypto analyst Ardi had warned<\/a> of growing weakness, pointing to a failed breakout in the RSI trend. \u201cRepeated warnings of structure being broken<\/em>\u201d were noted after the loss of early support. He also cautioned that overexposed long positions were creating risk, adding, \u201c5% moves were causing a cascade of liquidated long positions<\/em>,\u201d leading to even larger drawdowns.<\/p>\n Moreover, Zcash continued lower, reaching a second liquidity zone near $370. Ardi noted<\/a> that he closed half his short position at this level. He added that if this zone breaks, the next area to watch is between $297 and $311, which includes the 61.8% Fibonacci level and a large pool of previous liquidity.<\/p>\n Trading volume has spiked, crossing $1 billion in the past 24 hours. ZEC has traded between $356 and $457 in the last day, with the broader 7-day range showing a high of $585 and a low near $358 (per CoinGecko data).<\/p>\n Technical indicators support the current downtrend. The MACD continues to move lower, with the signal line confirming negative momentum. Red histogram bars are increasing in size, showing strong selling pressure.<\/p>\n Meanwhile, the Money Flow Index now stands at around 35, pointing to continued outflows, though nearing levels where past reversals have occurred.<\/p>\n Analyst Ali Martinez noted<\/a> that ZEC had returned to a known support zone near $440.<\/p>\n \u201cBounce or breakdown?\u201d he asked in a recent post.<\/p>\n<\/blockquote>\n That level has now broken, confirming lower lows and maintaining the bearish structure.<\/p>\n Market opinion remains divided. Max Keiser commented<\/a>,<\/p>\n \u201cThe $ZEC \u2018pump \u2018n dump\u2019 is over. A trip back to $55 looks inevitable.\u201d<\/p>\n<\/blockquote>\n His view reflects growing skepticism after the recent drop. Separately, it was recently reported<\/a> that Grayscale has plans to convert its Zcash Trust into an exchange-traded fund (ETF). If approved, the ETF could make it easier for investors to gain exposure to ZEC without needing to hold the asset directly.<\/p>\nMomentum Indicators Show Further Weakness<\/h2>\n
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Uncertainty Over Long-Term Direction<\/h2>\n
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