As seen on the daily chart, ZEC continues to trade within a descending structure, with price repeatedly rejected near the upper trendline. The latest pullback has pushed the price closer to the mid-range, while Bollinger Bands remain wide, indicating no volatility compression yet. Volume has declined compared to the prior rally, and the Chaikin Money Flow hovers near neutral, signalling weak conviction from both buyers and sellers. This setup suggests continued consolidation unless a decisive breakout or breakdown occurs.
From a technical standpoint, the Zcash price remains range-bound within a descending structure, keeping the broader trend cautious. A sustained move above $400–$420 would be required to invalidate the current bearish bias and open the door toward $460 and $500 in the short term. On the downside, failure to hold the $350–$340 support zone could expose ZEC to deeper pullbacks toward $300. Until a decisive breakout occurs, price action favours consolidation with downside risk still present.
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