Zcash/Tether (ZECUSDT) Market Overview — 2025-10-10

• ZECUSDT surged 17.6% in 24 hours, peaking at $240 before retracing to $231.71.
• Strong volume acceleration confirmed breakouts above $210, $220, and $230 levels.
• RSI and MACD signaled overbought conditions after $230, hinting at near-term consolidation.
• Volatility expanded as price traded within widening Bollinger Bands, indicating active position-taking.
• A bullish engulfing pattern emerged near $185–$195, confirming a reversal from bearish to bullish momentum.

Zcash/Tether (ZECUSDT) opened at $186.61 on 2025-10-09 at 16:00 ET and surged to a 24-hour high of $240.00 before retracing to close at $231.71 at 12:00 ET on 2025-10-10. Total volume for the period reached 1,094,636 ZEC, with notional turnover at $259.6 million, reflecting aggressive accumulation and breakout trading.

The structure of the 24-hour candlestick pattern reveals a strong bullish bias. A key support level was identified near $185–$187, where a large bullish engulfing pattern confirmed a reversal from bearish pressure to bullish momentum. Resistance levels formed at $195, $210, and $220, all of which were decisively breached with increasing volume. A major resistance now appears at $235–$240, where price paused multiple times, suggesting a potential consolidation or reversal zone.

Moving averages show a strong bullish bias at the 15-minute timeframe. The 20-period MA crossed above the 50-period MA in the final hours of the 24-hour window, reinforcing the breakout above $220. Daily MAs, including the 50, 100, and 200-period MAs, are now aligned in ascending order, supporting a longer-term bullish outlook. MACD confirmed the strength of the move with a positive divergence from $200 onward, while RSI peaked at overbought levels (85–90) near $235–$240, suggesting a potential pullback or sideways consolidation in the near term.

Volatility expanded as price moved within widening Bollinger Bands, indicating active position-taking and a rise in market uncertainty. At the 24-hour close, ZECUSDT was trading near the upper band, suggesting aggressive bullish positioning. Volume was particularly heavy during the $210–$240 range, with the highest turnover occurring around the $230–$235 level. A Fibonacci retracement drawn from the $185–$240 move suggests 61.8% support near $223.50, which was briefly tested before the price bounced again.