Zcash price action on Binance shows a sharp correction from the $700–$750 zone to near $300 before rebounding toward $500–$550. The move reflects defined resistance zones, clear support levels, and elevated downside risk based on chart data shared on X by Cryptopatel.
The daily chart shows a complete downside leg near 55% from the peak, followed by a structured bounce. Trading now sits around $500–$550, after an earlier move from the $300 base. This setup frames the current market positioning around resistance, support, and risk-management levels.
Can prices be sustained above resistance without breaching defined stop thresholds?
ZEC previously traded between $700 and $750 before a sharp sell-off unfolded. The chart shows a roughly 50% drop as the price moved toward the $300 region. That decline aligned with a breakdown of the all-time high resistance band; multiple rejection points accumulated near the top, followed by strong bearish candles.
As prices fell, it reached a green support and a bullish order block near $300, which acted as a base where selling pressure slowed.
After touching the $300 area, ZEC rebounded toward $500. The move represents an increase of more than 80% from the local low based on spot price levels. The chart outlines a measured bounce into a mid-range resistance area. Fibonacci retracement levels also align with the rebound zone near $500–$550.
Prices now trade below a broader resistance band marked between $550 and $600. That zone appears repeatedly on the chart as a reaction area.
The chart labels $550–$600 as a key resistance zone, aligning with prior supply and rejection points during earlier trading sessions. A higher-timeframe stop level appears above $720. It also notes a sustained close above that level would invalidate the current resistance structure.
Despite the rebound, there is potential downside risk. A marked fair-value gap and Fibonacci extensions point at a possible price action below $200 if weakness resumes.
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Zcash previously rallied from near $20 to roughly $750. The chart commentary notes major profit-taking likely occurred near the highs. Long positions above current levels carry elevated risk according to the displayed structure. Resistance overhead remains heavy, while downside zones remain visible.
This chart presents defined levels rather than directional certainty. All movements shown reflect historical price behavior, mapped support and resistance, and measured ranges, without forecasts.
ZEC price rebounded from $300 to the $500–$550 range after a sharp decline from $750. With firm support near $300 and strong resistance between $550 and $600, risk remains elevated, while downside zones below $200 are still visible. Traders are now focusing on key levels and disciplined risk management.