Zcash (ZEC) price has been one of the strongest performers in the market this year, but right now the chart is showing a very delicate moment. Analyst Sjuul (AltCryptoGems) says ZEC is “playing with fire,” and the chart he shared makes the situation very clear.
The price briefly slipped below a key trendline, then managed to reclaim it, just barely. That bounce kept the uptrend alive, but the margin for error is shrinking fast.
This is an important point in the chart because the Zcash price has been respecting the 90-minute EMA200 repeatedly during its major rallies.
Every time ZEC touched that moving average, it bounced and continued higher. Now, the price is hovering right above it, and traders are watching closely to see which direction it will confirm next.
Here’s What The Zcash Chart Is Showing
According to Sjuul, the reclaim of the trendline keeps the bullish structure intact for now. As long as the ZEC price can hold above the EMA200, this whole drop can still be seen as just a normal pullback inside a bigger uptrend. That keeps the door open for another move higher, especially if buyers show up the way they did earlier this year.
The chart he shared highlights multiple times when ZEC retested the same moving average and bounced sharply afterward. This consistency is why the level matters so much.
If the ZEC price holds above it again, history suggests the price could attempt another wave higher, possibly retesting recent highs.
But this time feels different. The way this pullback happened, fast, with weaker momentum, makes it clear that buyers aren’t pushing as hard as before. If the price starts closing under the EMA200 again, that’s usually the first hint that the trend might be shifting.
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What Happens If ZEC Price Loses the Trendline?
If the Zcash price fails to hold this moving average, the chart suggests a deeper correction could unfold. The move would break months of trending behavior, and that typically triggers a stronger downside as traders unwind positions.
Losing the trendline could pull ZEC toward the next major support zone, levels it hasn’t tested since before the parabolic surge. That would mark a change in direction instead of a simple pullback.
Sjuul’s warning is simple:
Hold this level, and the uptrend continues. Lose it, and the ZEC price could drop much further.
Right now, the price is sitting right on top of that line, and the next few sessions will likely decide the short-term direction. For now, ZEC is still alive in its uptrend, but just barely.
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