Market Overview for Zcash/Tether (ZECUSDT) – 2025-10-08

• Zcash/Tether (ZECUSDT) posted a lower close in 24 hours amid bearish momentum and declining volume.
• A key support level around 144.0–145.0 was tested and held, with a potential short-term rebound observed near 147.0.
• Volatility expanded in the final 6 hours, but turnover remained muted relative to price action.
• RSI and MACD showed bearish alignment, suggesting possible oversold conditions could trigger a reversal.
• The 20-period MA on the 15-min chart acted as a dynamic resistance; a break below 144.0 would signal deeper bearish bias.

The Zcash/Tether (ZECUSDT) pair opened at $164.83 (12:00 ET − 1) and traded between $165.4 and $130.61 before closing at $137.08 at 12:00 ET. Total volume over 24 hours reached 50995.834 ZEC, while turnover amounted to $6,986,423.45 USD (based on weighted average close prices). Price action was characterized by a bearish trend with key support and resistance levels forming around 144.0–147.0, and a late rebound observed in the final hours.

Structure and formations in the 15-minute data suggest bearish momentum. A long black candle at 2025-10-07 143000 confirmed a breakdown below critical support at $141.0. A potential bullish engulfing pattern emerged at $146.0–147.0 between 2025-10-07 133000 and 134500, but failed to hold. A doji near $145.0 at 2025-10-07 103000 and a hammer at 2025-10-07 140000 indicate potential short-term stabilizing action. Key resistance appears at $147.0–148.0, with support reinforcing around $144.0–145.0.

Moving averages indicate a bearish bias over the 24-hour window. On the 15-minute chart, the 20-period MA acted as a key dynamic resistance, while the 50-period MA confirmed the downtrend. Over daily data, the 50-period MA sits well above price, with the 100- and 200-period MAs forming a bearish alignment. Price has not closed above the 20-period MA in the last 8 hours, suggesting bearish momentum may persist unless a strong bullish reversal forms near $147.0.

MACD (12,26,9) shows a bearish crossover, with a negative histogram expanding after the breakdown below $145.0. RSI (14) confirmed bearish exhaustion, dipping into oversold territory below 30 for the first time in 24 hours. Bollinger Bands show a moderate expansion in the last 4 hours, with price moving close to the lower band near $143.0. This may indicate a possible countertrend bounce, but bearish sentiment remains strong unless volume increases significantly.

Backtest Hypothesis: A potential strategy involves entering a short position when price breaks below the 20-period MA on the 15-minute chart, with a stop just above a recent swing high and a target aligned with the next Fibonacci retracement level (38.2–61.8%). A long bias could be triggered if price retests the $147.0–148.0 level with increasing volume and a bullish engulfing pattern. This approach would be most effective in a consolidating phase post-breakdown, where price respects key support and resistance levels with clear momentum confirmation.