Zcash Rebound in Motion? Charts Hint at a Possible Shift
The post Zcash Rebound in Motion? Charts Hint at a Possible Shift appeared com. Zcash is testing key support after a steep decline, with chart signals and trader activity pointing to a possible near-term recovery path. Zcash has lost a large chunk of its latest rally, yet recent sessions show that traders are not giving up on the token. The drop removed more than a quarter of its value, even though selling pressure has slowed. As of writing, the charts show a tight range forming which often hints at a trend toward accumulation when traders start to test major support levels. Zcash Approaches a Possible Turning Point ZEC has spent the past week among the weakest tokens by performance. Heavy selling pushed the price lower day after day, yet a slight change appeared as candles shortened and volume thinned. That change often indicates easing pressure from sellers. A narrowing range also formed, creating a zone that traders often watch for signs of recovery. The red candles on ZEC’s 4-hour chart are shortening | source- TradingView The token now trades close to several areas that previously caused strong reactions. Prices near these zones tend to draw both buyers and sellers as each group tries to take control. This pull and push often affects the next short-term direction for assets that have just faced heavy losses. Technical Signs That Indicate Exhaustion Several readings on the chart now show that the drop may be tiring out. The size of the candles during the slide has also shrunk. Volume also fell during late sessions, and these two changes often indicate that sellers are becoming less aggressive. That level aligns with past interest on the chart, which makes it an area that traders revisit. ZEC.
