ZEC Update: روند کاهشی ادامه دارد

ZEC Update: Price has now decisively broken down from the rising channel, and the attempted reclaim back into the structure failed, confirming this move as corrective rather than trend continuation. Former channel support in the 390-400 region is continuing to act as resistance, and the inability to hold above it reinforces that sellers remain in control. Structurally, this shifts the bias back to the downside, with price likely to remain under pressure into year end.

From a broader perspective, this lines up with the wider crypto market showing signs of distribution and risk-off behavior following the recent expansion phase. As liquidity tightens and momentum cools across majors, higher beta and narrative-driven assets like ZEC tend to retrace deeper and test higher timeframe levels. In that context, continuation back toward the ~300 HTF support zone makes the most sense from both a technical and macro standpoint.

The ~300 level is especially important here. This would be a second test of what has recently flipped from resistance to support, making it a true validation level. A strong reaction would suggest acceptance of this zone as a higher low within a larger cycle, while a weak or impulsive break would open the door to further downside and a longer basing process. I’m cautious here, as second tests often determine whether a level holds structurally or fails outright.

Assuming the market continues to flush and reset into early next year, I’d expect conditions to improve closer to February once excess leverage and weak hands are cleared out. Until then, the focus remains on respecting structure, managing risk, and letting price confirm before getting aggressive. For now, this looks like consolidation and downside continuation within a broader market reset rather than the start of a new uptrend.