Weekly chart ZEC/USDT.
The privacy cryptocurrency Zcash became the main surprise of the fall, showing growth of more than 520% in a month and confidently holding its position even against the backdrop of the recent crypto market crash. ZEC approached the $300 mark, which it had not reached since the end of 2021, and now the market’s attention is focused on the question — is there enough strength for a new surge.
Technical picture: chance for another +25%
Four-hour chart ZEC/USDT.
According to technical analysis, ZEC is consolidating within a “bullish flag” pattern, which may indicate continued growth. If buyers manage to break through the upper boundary of the range, the next target will be around $336 — about 25% above current levels.
At the same time, a short-term candle on the four-hour chart formed a “gravestone doji” pattern at the resistance zone, signaling a possible local correction to support around $237.
Despite the overheated market, Zcash remains above the 20- and 50-period moving averages, confirming the stability of the bullish trend and the presence of buying demand during pullbacks.
Correction risks: $210 level in focus
ZEC/USDT liquidation heatmap (24 hours).
If the ZEC price drops below the $244 support, this could trigger a chain reaction of long position liquidations. According to CoinGlass, more than $5 million in potential liquidations are concentrated in this area, and a break of the level could provoke an accelerated fall down to $210.
This range coincides with the 50-period EMA zone, which acts as dynamic support. Losing this level would call into question the further development of the bullish scenario and open the way for a deeper correction.
Zcash updated overbought record
Weekly chart ZEC/USDT.
Another alarming signal is the record RSI on the weekly chart. The relative strength index rose above 92 points, which is a historical maximum for ZEC. For comparison: in April 2021, the RSI reached 78, after which the coin fell by almost 70% over the following months.
The scenario of a temporary cooldown looks likely, especially if the price fails to consolidate above the 0.786 Fibonacci level — around $245. In this case, a return to the $210–$230 range is possible, where, according to analysts, a new entry point may form.
What analysts say
Three-day chart ZEC/USDT.
Crypto analyst Altcoin Sherpa believes that any pullback to $200–$230 will be a buying opportunity.
“I’m closely watching the $230 zone and below — if we get there, it could become a strong support level,” the expert noted.
Other observers point out that despite the overheating, the market structure remains bullish: if investor interest and trading volume persist, ZEC could test the $307–$336 zone as early as October.
What’s next?
Zcash remains one of the strongest assets on the market after the September rally. However, overbought conditions and the approach to key resistance levels increase the likelihood of a short-term correction.
If the asset holds above $245, ZEC has a chance to reach $336 and possibly retest the 2021 high around $375. Otherwise, the market may face the expected pullback, which will clear overheated positions and create a base for a new growth cycle.
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