Why the Black Friday Crash Is Not Enough to Stop ZEC’s Rebound Above $300

Privacy-focused cryptocurrency Zcash (ZEC) has defied final Friday’s market-wide crash triggered by renewed US–China tariff tensions, which despatched most altcoins sharply decrease. While the broader crypto market shed over $20 billion in worth, ZEC’s worth has since surged by 19%.

Despite the heavy losses throughout many property, on-chain and technical indicators recommend that ZEC’s upward momentum could persist.

ZEC’s $300 Cluster Draws Traders In

According to information from Coinglass, ZEC’s liquidation heatmap exhibits a dense capital cluster barely above its current price level at $300.56.  

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Liquidation heatmaps assist merchants spot value ranges the place numerous leveraged positions may very well be worn out. They spotlight zones of high liquidity, typically color-coded, with brighter areas indicating heavier liquidation potential.

Usually, these zones act as magnets for value motion, as the market tends to transfer towards these areas to set off liquidations and open recent positions.

For ZEC, the focus of liquidity round $300.56 indicators sturdy dealer curiosity in shopping for or closing brief positions at that value, pointing to the chance of a near-term value rally.

Furthermore, on the day by day chart, the setup of ZEC’s Moving Average Convergence Divergence (MACD) confirms this bullish outlook. At press time, the token’s MACD line (blue) rests above its sign line (orange), a pattern broadly considered a bullish momentum signal.

An asset’s MACD indicator identifies tendencies and momentum in its value motion. It helps merchants spot potential purchase or promote indicators by means of crossovers between the MACD and sign traces. 

When the MACD line is above the sign line, it signifies buy-side stress and means that ZEC’s value could proceed to rise. 

Can Buyers Hold the Line at $270? 

If this accumulation pattern continues, ZEC might maintain its rally, climb above the psychological $300 degree, and regain its four-year high of $305. 

However, failing to keep shopping for stress round $270 could expose it to short-term corrections earlier than one other upward leg. In this situation, its value could fall below the assist at $234.74 and dip towards $194.52.

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