Market Overview for Zcash/Tether (ZECUSDT)

• Zcash/Tether (ZECUSDT) declined in a volatile 24-hour period, closing near a key support level after a sharp pullback from intraday highs.
• Momentum indicators signaled bearish divergence, with RSI hovering in oversold territory and MACD forming a bearish crossover.
• Volatility expanded through the session, with price breaking below a 20-period moving average and testing prior swing lows.
• Bollinger Bands widened, indicating increased uncertainty, while volume surged during the selloff but weakened in the final hours.
• Fibonacci retracement levels suggest 320–325 could be a near-term floor, with a potential rebound or continuation depending on buying pressure.

Zcash/Tether (ZECUSDT) opened at $362.58 on October 27 at 12:00 ET and closed at $326.47 the following day at the same time. The price reached a high of $373.54 and a low of $320.10 over the 24-hour period. Total volume traded was 328,425.31 ZEC, while notional turnover amounted to approximately $108.9 million in USD, reflecting heightened trading activity amid price dislocation.

The 15-minute chart shows a bearish bias with a breakdown from key resistance levels, including the 20-period and 50-period moving averages. A bearish MACD crossover emerged early in the session, confirming a downtrend, and RSI dropped below 30, signaling potential oversold conditions. However, this does not guarantee a reversal, and traders should remain cautious about divergence between price and momentum indicators.

Bollinger Bands widened as volatility increased, particularly during the sharp sell-off from $368.63 to $329.25. Price tested the lower band multiple times, with the final 15-minute candle closing near the 326–327 level. This suggests potential support could be found in the 320–325 range, which includes prior swing lows and Fibonacci retracement levels from the recent high. Notably, volume spiked during the selloff but faded in the last few hours, indicating a possible pause in aggressive selling.

Backtest Hypothesis

Given the bearish MACD crossover observed during the session, the proposed strategy of "Buy on MACD Death Cross, hold until next signal" could be tested using the ZECUSDT pair on Binance. Assuming the default trade logic — entering at each Death Cross and exiting on the subsequent Golden Cross — this approach could be backtested using historical price data and the MACD indicator. However, given the current strong bearish momentum and lack of a Golden Cross in the 24-hour period, the next Golden Cross may not materialize for several days or weeks. For clarity, it is important to confirm whether ZECUSDT on Binance is the correct instrument and whether the trade logic should be adjusted. A more aggressive approach (e.g., exiting on the next Death Cross) may better align with the prevailing trend.