ZCash Dips 36% in Five Days, Eyes $395 Retracement
ZCash has plunged 36.8% over the past five days following a rapid 323% rally from $177 to $750. Trading around $473, ZCash price faces high short-term volatility and potential further downside. Technical analysis on the 4-hour chart shows the RSI at 40.9 and a bearish On-Balance Volume, while Fibonacci retracement levels highlight key supports at $463.50 (50%), $395.90 (61.8%), and $299.60 (78.6%). The 1-hour timeframe reveals a bearish structure and a supply zone between $475 and $518. A decisive break above $518 on above-average volume could signal a bullish reversal, but failure to reclaim this level risks deeper retracements toward $395 or lower. Liquidation heatmaps also point to clusters at $400–$420 and $520–$540, underscoring market pressure. Traders should maintain a short-term bearish bias until $518 flips to support.
Bearish
The sharp 36.8% decline in ZCash price after a steep rally, combined with bearish RSI and declining On-Balance Volume readings, supports a short-term bearish outlook. Key Fibonacci retracement levels at $395 and $300 align with potential targets as the 1-hour chart reveals a clear supply zone between $475 and $518. Historical patterns—such as similar post-rally corrections in leading altcoins—show that failure to reclaim resistance often leads to deeper pullbacks. Unless ZEC breaks above $518 on above-average volume, traders are likely to see further downside. In the long term, a sustained reversal above $520 could restore bullish momentum, but for now, market structure and liquidation clusters favor continued weakness.