A coin climbed 253% in weeks. It's now sitting almost exactly on top of the one moving average that's held through the entire rally.
Zcash surged from around $480 to an all-time high near $1,698 in late September, then dropped roughly 24% as Grayscale's Zcash ETF logged a $30 million net outflow and blockchain investigators traced funds from a $387 million Bitget hack — reportedly linked to North Korean actors — moving into Zcash's shielded pool, a reputational problem for a privacy coin trying to build legitimacy.
The 4H chart shows the decline accelerating into a real test: after peaking near 1,700, $ZEC fell in stages through 1,550, then 1,450, then 1,400, and now sits at 1,291.69 — just above the rising EMA200 at 1,272.12, the first time this average has actually been challenged since the rally began.
RSI has dropped to 34.19, approaching oversold, and the MACD histogram is sharply negative at -4.85.
A 21-24% pullback after a 253% rally isn't unusual on its own — Zcash did something similar in June, dropping sharply before climbing well past its prior high. What's different this time is that price is now testing the EMA200 directly rather than correcting within the trend above it. Holding this level would keep the longer uptrend technically intact. Losing it would be the first real evidence that this correction is becoming something bigger than profit-taking.
Not financial advice — for informational purposes only.
#zec #zcash #Binance
Zcash surged from around $480 to an all-time high near $1,698 in late September, then dropped roughly 24% as Grayscale's Zcash ETF logged a $30 million net outflow and blockchain investigators traced funds from a $387 million Bitget hack — reportedly linked to North Korean actors — moving into Zcash's shielded pool, a reputational problem for a privacy coin trying to build legitimacy.
The 4H chart shows the decline accelerating into a real test: after peaking near 1,700, $ZEC fell in stages through 1,550, then 1,450, then 1,400, and now sits at 1,291.69 — just above the rising EMA200 at 1,272.12, the first time this average has actually been challenged since the rally began.
RSI has dropped to 34.19, approaching oversold, and the MACD histogram is sharply negative at -4.85.
A 21-24% pullback after a 253% rally isn't unusual on its own — Zcash did something similar in June, dropping sharply before climbing well past its prior high. What's different this time is that price is now testing the EMA200 directly rather than correcting within the trend above it. Holding this level would keep the longer uptrend technically intact. Losing it would be the first real evidence that this correction is becoming something bigger than profit-taking.
Not financial advice — for informational purposes only.
#zec #zcash #Binance
