Market Overview for Zcash/Tether (ZECUSDT): 24-Hour Performance

Summary
• Price formed a bullish reversal pattern near $443.02 with volume support.
• RSI indicates oversold conditions, suggesting possible short-term rebound.
• Volatility increased significantly during the late-night downtrend.
• Bollinger Bands show price approaching the lower band, indicating compression.
• A 50-period moving average on the 5-min chart crossed below key support at $470.64.

Zcash/Tether (ZECUSDT) opened at $480.72 at 12:00 ET − 1 and closed at $395.94 at 12:00 ET. The pair reached a high of $485.95 and a low of $382.78 over the 24-hour period. Total traded volume was 232,113.75 ZEC, with notional turnover of $95,421,159.56.

The price structure suggests a significant bearish impulse beginning around 01:00–05:00 ET, where ZEC/USDT fell over $100 in a single session on strong volume. This was followed by a brief rebound into the early morning, forming a potential bullish reversal pattern near $443.02.

Structure & Moving Averages

A 50-period 5-minute moving average crossed below a key support level of $470.64, reinforcing bearish momentum. The 20-period MA also failed to provide meaningful support during the selloff. On the daily chart, the 50-period and 200-period MA appear to be converging at $475–480, suggesting a potential consolidation area.

MACD and RSI Signals

MACD turned negative during the late-night sell-off, confirming the bearish trend. RSI dipped into oversold territory near 25, suggesting the price may find short-term support in the near term. However, the divergence between price and MACD suggests caution, as momentum has weakened.

Bollinger Bands and Volatility

Bollinger Bands expanded significantly during the early part of the session, reflecting heightened volatility. Price tested the lower band near $382.78, indicating a potential reversal point. However, a continued break below this level could trigger further downward movement.

Volume and Turnover Divergence

Volume spiked during the late-night downtrend, particularly in the 03:45–04:45 ET period, confirming the bearish move. Notional turnover also increased sharply during this phase, showing strong selling pressure. However, volume has not confirmed a new bearish leg lower in the morning session, suggesting a potential pause.

Fibonacci Retracement Levels

Key retracement levels for the recent 5-minute move from $485.95 to $382.78 include 61.8% at $436.49 and 38.2% at $455.39. Price appears to be testing the 61.8% level currently, which could either hold or break in the next 24 hours.

Over the next 24 hours, a rebound to the $443.02–$455.39 range could offer a temporary pause, but a sustained break below $382.78 may trigger a new wave of bearish momentum. Investors should remain cautious as volatility remains high and divergence in momentum indicators may signal a potential shift.