Market Overview for Zcash (ZECUSDT): 24-Hour Technical Summary

• ZECUSDT closed lower at $39.76 after a sharp decline from $40.63, suggesting bearish momentum.
• A key support level appears at $39.46–$39.55, with a rejection of a test at $38.88.
• Volume spiked during the decline from $40.63 to $39.56, indicating aggressive selling pressure.
• RSI entered oversold territory, hinting at potential short-term buying interest.
• Volatility expanded with a 24-hour high-low range of ~$1.36, signaling increased market uncertainty.

Zcash (ZECUSDT) opened at $40.46 on 2025-08-25 12:00 ET, reached a high of $40.75, and closed at $39.76 by 12:00 ET on 2025-08-26. The 24-hour volume totaled ~10,285.89 ZEC, with a notional turnover of ~$402,783.

Structure & Formations

Price action over the past 24 hours showed a strong bearish bias, with a key support cluster emerging between $39.46 and $39.55. A large bearish engulfing pattern appeared during the drop from $40.63 to $39.56, confirming the reversal from a recent high. A bullish doji formed briefly in the late hours, indicating some hesitation from bears. The price rejected a test of the $38.88 level twice, suggesting it may serve as a strong support floor.

Moving Averages

On the 15-minute chart, the 20-period MA acted as a dynamic resistance, while the 50-period MA crossed below it, signaling bearish momentum. The 50-period daily MA is currently at ~$39.90, suggesting further downside could continue into the next 24 hours. The 200-period daily MA at ~$39.30 appears to offer a critical floor.

MACD & RSI

The MACD turned negative and crossed below its signal line during the early morning decline, reinforcing the bearish bias. The RSI dropped into oversold territory (~35), which may indicate a short-term pullback could occur, though a meaningful reversal will require a sustained move above the 50 RSI threshold.

Bollinger Bands

Volatility expanded significantly, with Bollinger Bands widening after the sharp move from $40.63 to $39.56. Price closed below the lower band during the 01:00–03:00 ET window, suggesting oversold conditions. The bands have since begun to contract, indicating a potential consolidation phase ahead.

Volume & Turnover

Volume spiked during the morning decline (16–18 ET 2025-08-25) and again in the early morning hours of 2025-08-26, confirming the bearish momentum. Notional turnover also rose sharply, aligning with the price drop. A divergence between volume and price during the late-night consolidation suggests some short-term uncertainty.

Fibonacci Retracements

The recent 15-minute swing from $40.63 to $39.56 aligns with key Fibonacci levels at 38.2% ($40.13) and 61.8% ($39.72). Price has stalled near the 61.8% retracement, suggesting further pullback could test the 38.2% level before a potential rebound. On the daily chart, the $38.88 level corresponds to a 61.8% retracement of the larger move, reinforcing its importance as a potential support.

Zcash may find near-term buyers around $39.72–$39.85, especially if the RSI continues to rebound. However, a break below $39.46 could accelerate the decline toward $38.88. Investors should monitor volume and RSI closely for signs of a reversal or further capitulation.