For weeks, Zcash (ZEC) shot up unexpectedly, creating a 10x spike that caught attention across the crypto world. The surge felt almost like it came out of nowhere. However, that high-flying momentum quickly faded. The price has started to fall hard, and early signals suggest this could only be the start of a bigger drop.
Analyst Spermix tweeted a stark warning. He noted a chart showing that $ZEC just fell off a cliff. According to his analysis, the breakdown has erased every support level along the way. No bounce, no reaction, just pure weakness. The next real demand might sit much lower. Until $ZEC finds a solid green zone and builds structure, every pump is likely just noise.
Looking at Spermix’s chart, it’s clear that $ZEC is breaking below key support levels. From the current price around $340, there is a chance the drop could take the price as low as $200. That $200 mark could become the next major support, a level where buyers might finally step in.
Technical Indicators Point to More Pain Ahead
Even daily indicators reinforce the possibility of a deeper slide. Data from Investing.com shows that several key momentum and trend indicators are signaling weakness rather than a reversal. Here’s a snapshot of what the numbers look like:
| Name | Value | Description |
|---|---|---|
| RSI(14) | 35.639 | Close to oversold, but still suggesting downward pressure |
| STOCH(9,6) | 27.543 | Momentum remains weak and signals more selling |
| MACD(12,26) | -19.1 | Trend is bearish with no signs of turning positive |
| Ultimate Oscillator | 32.183 | Confirms selling strength and lack of bullish momentum |
Each of these readings points toward trouble. RSI below 40 indicates a market still trending down. Stochastic values under 30 usually hint at oversold conditions, but the downward momentum is still strong. MACD is firmly negative, suggesting sellers remain in control. The Ultimate Oscillator confirms that the market lacks the energy for a rebound.
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The combination of broken support levels and weak indicators makes the picture grim for $ZEC. If the current trend continues, the price could test $200 in the near term. At that level, there might be some recovery attempts, as it has historically acted as strong support. Until then, rallies may feel temporary and unreliable.
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