#zec weakened significantly over the past 24 hours, falling as much as 7.15% before closing at $1,217.78. The price had previously attempted to rebound, but was turned back twice at key levels and eventually came under selling pressure, indicating that bears still have the upper hand in the short term.
Key resistance: $1,292–$1,309. This is an area where the price has been turned back several times before, and rebounds to this range may encounter selling pressure. If ZEC is to regain strength, it will first need to break above this range. In the short term, $1,246 is also a resistance level to watch.
Key support: around $1,094. If the price continues to fall, this area could become an important support level. However, support does not guarantee a rebound, so the actual price action should still be monitored.
In terms of trading volume, ZEC’s trading volume over the past 24 hours rose to about $1.45 billion, indicating a clear pickup in market activity. At the same time, ZEC’s decline was steeper than Bitcoin’s 3.35%, reflecting its higher volatility risk.
Derivatives data shows that the funding rate was only slightly positive, while open interest stood at around $719.8 million. For now, there is no clear evidence that this decline was primarily driven by large-scale forced liquidations.
Key resistance: $1,292–$1,309. This is an area where the price has been turned back several times before, and rebounds to this range may encounter selling pressure. If ZEC is to regain strength, it will first need to break above this range. In the short term, $1,246 is also a resistance level to watch.
Key support: around $1,094. If the price continues to fall, this area could become an important support level. However, support does not guarantee a rebound, so the actual price action should still be monitored.
In terms of trading volume, ZEC’s trading volume over the past 24 hours rose to about $1.45 billion, indicating a clear pickup in market activity. At the same time, ZEC’s decline was steeper than Bitcoin’s 3.35%, reflecting its higher volatility risk.
Derivatives data shows that the funding rate was only slightly positive, while open interest stood at around $719.8 million. For now, there is no clear evidence that this decline was primarily driven by large-scale forced liquidations.