Market Overview: Zcash (ZECUSDT) 24-Hour Technical Summary (2025-07-25)

• Zcash posted a bearish close of $39.22 after a 15-minute candle broke below a key support level of $39.32.
• Momentum indicators signal oversold conditions, but divergences in volume suggest caution.
• A strong bearish engulfing pattern formed at the $40.33–$40.63 swing high, confirming a shift in sentiment.
• Volatility expanded after 22:00 ET, with a 15-minute drop of ~1.5% into the early hours.
• Bollinger Bands widened sharply overnight, indicating a potential turning point in directional bias.

Zcash (ZECUSDT) opened at $40.89 on 2025-07-24 at 12:00 ET, reached a high of $41.54, and closed at $39.22 by 12:00 ET on 2025-07-25. Total volume across the 24-hour window was approximately 27,780.79 ZEC, with a notional turnover of roughly $1,134,537.

Structure & Formations

ZECUSDT displayed a key bearish reversal at the 15-minute $40.33–$40.63 swing high, marked by a strong bearish engulfing pattern. This level appears to have acted as a psychological ceiling, with price unable to retest it after the breakdown. A doji formed at $40.62, signaling indecision, while a key support level of $39.32 was broken with confirmation by the next candle. Fibonacci retracement levels from the $40.89–$41.54 move suggest a possible 61.8% retracement target near $40.35, but price failed to find support there.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended lower during the late-night sell-off, with price remaining below both. This suggests a short-term bearish bias. On the daily chart, the 50-period and 100-period moving averages are converging, indicating a potential inflection point in the broader trend.

MACD & RSI

The 15-minute MACD turned negative overnight, with a bearish crossover confirming the breakdown from the $40.33–$40.63 level. The RSI dipped below 30 into oversold territory, but failed to trigger a meaningful rebound, suggesting potential for further downside. Divergence between RSI and price in the early morning hours indicates caution is warranted for any short-term bounces.

Bollinger Bands

Bollinger Bands expanded sharply between 22:00 and 04:00 ET, with price trading well below the lower band during the sell-off. This suggests heightened volatility and a potential exhaustion of the current bearish move. A retest of the lower band may offer a buying opportunity, but only if volume confirms renewed demand.

Volume & Turnover

Volume spiked during the late-night sell-off, particularly in the 03:00–04:00 ET timeframe, with a single 15-minute candle printing over 4,218 ZEC in volume. This was accompanied by a sharp drop in price, suggesting aggressive selling pressure. Notional turnover also rose significantly during this period, confirming the strength of the move. However, volume has since moderated, indicating a possible pause in the decline.

Fibonacci Retracements

Applying Fibonacci retracements to the $40.89–$41.54 swing high shows key levels at $40.35 (61.8%) and $40.12 (78.6%). Price has already tested $40.35 without a bounce, suggesting further support testing below that level is likely. On the daily chart, a 61.8% retracement from the broader recent move could point to a key support near $38.25.

Zcash may continue to test lower levels in the short term, particularly if sentiment remains bearish and volume remains elevated. However, the RSI suggests a potential rebound could be on the horizon if price finds support near $38.59. Investors should remain cautious, as the breakdown of key support levels increases the risk of a deeper pullback.