Zcash (ZEC) has fallen below the $300 level this season, confirming earlier forecasts from market experts who anticipated a deeper correction, according to the crypto analyst Hailey LUNC.
The decline reflects broader crypto market weakness and fading bullish momentum. This move places Zcash in a key accumulation zone, where investors are closely watching price stability and waiting for clear signs of a trend reversal.
Source: Hailey LUNC X Post
Despite the recent drop, bullish sentiment remains strong among some traders who believe Zcash could stage a powerful recovery.
Hailey LUNC suggests that once market momentum shifts and buyers regain control, ZEC may enter a parabolic rally phase.
Optimistic projections point toward a long-term upside target near $1,000, driven by renewed confidence, demand, and improving technical conditions overall.
Also Read: Zcash (ZEC) Sees Volume Spike as Price Rebounds From Falling Wedge Base
ZEC Price Faces Pressure Below Key Moving Averages
According to TradingView, ZEC remains in a broader downtrend despite a small bounce. Price trades below the 20, 50, 100, and 200 EMAs, showing bearish alignment and sustained downward pressure.
The 200 EMA near 296 acts as major resistance. Recent lower highs and lower lows confirm bearish structure, while the current recovery attempt remains weak overall technically.
Source: TradingVIew
The Ichimoku indicators also indicate bearish control since the token’s price is below the cloud and the future cloud is still in red. The lagging span is still below the token’s price, which also shows weak momentum.
The immediate support for the asset is between 244 and 246, while the resistance lies between 253 and 261–269. To turn positive for the bulls, they must take control of these levels and move the token’s price above 281.
Momentum Indicators Support Early Recovery Signal
The current value of the RSI (14) is near 41.8, which is still below the 50 level, indicating weak momentum conditions. The current value is not oversold; thus, pressure is limited and still dominant.
The recent curl is upward, indicating momentum stabilization. Momentum is improving as the RSI crosses above its signal average, and momentum is still weak and needs further upward continuation.
Source: TradingView
The MACD is still below the zero level, which confirms that underlying bearish momentum is still intact in the market. However, it can be seen that the histogram is decreasing, indicating that selling pressure is decreasing as well.
The MACD and signal lines are approaching each other and becoming flat, indicating that sellers are losing momentum.
Also Read: Zcash (ZEC) Breakout Above $320 Could Signal Strong Bullish Momentum