After one of the most turbulent days in the crypto market, Zcash managed to stand its ground. While most assets plunged during Friday’s flash crash, ZEC briefly dipped below $160 before recovering within minutes and resuming its climb. That kind of resilience stands out in a market still shaken by mass liquidations and system outages.
Strong Momentum Meets a Technical Ceiling
ZEC’s price has been on a sharp upward trajectory, now hovering near $280 after gaining almost 20% in a single day. The strong bullish sentiment is clear across multiple timeframes. Momentum indicators, however, suggest that this strength might be pushing into overheated territory.
The Relative Strength Index (RSI) has reached 86 on the 14-day measure and 88 on the 7-day, both well above the traditional overbought threshold. This often signals that buyers may have overextended and that a brief correction could follow before any continuation of the trend.
At the same time, the price is approaching the next Fibonacci resistance zone around $295. This area might be difficult to break, and how ZEC behaves there may determine whether this run becomes a sustained breakout or a short-term top. Traders watching the charts see this level as a key battleground between bullish continuation and consolidation.
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Confidence Returns After the Crash
Zcash stands out as one of the few coins that managed to absorb the market shock and keep momentum intact. The quick recovery has strengthened confidence that the recent uptrend may have deeper support than just speculative momentum. Social sentiment data reflects that optimism, with mentions of ZEC rising alongside discussions about privacy-focused projects.
If it fails to close above the $295 resistance, a short-term pullback toward the mid-$250s would be a natural outcome for cooling off the RSI levels. On the other hand, a clear breakout above that area could open the door for another leg up in the coming sessions.
