Is Zcash’s Rally Running Out of Steam? This Key Level Could Reveal All

Zcash has enjoyed a significant surge this cycle, soaring from the $200 range to nearly $600 without much market disruption. However, after an extended period of growth and signs of waning momentum, traders are wondering if ZEC’s price rally is truly exhausted. examining the chart reveals why. The coin has maintained a steady upward trajectory since exceeding $200, respecting this line on each pullback. However, lately, the momentum has diminished. While it continues to hover in the $580- $600 area, the candles are becoming heavier and the rally lacks its previous strength. This suggests the price may be stretched and nearing a significant correction.