Zcash (ZEC) pulled back on Thursday, slipping closer to its 50-day EMA at $489 while still holding above the $500 mark. Sellers have repeatedly defended a descending resistance trendline sitting near $581, blocking every rally attempt and keeping the token in a tightening range.
Mixed signals from the indicators
The RSI is parked around 52, barely above the neutral midpoint. Neither side is in control. The MACD, meanwhile, has crossed below zero, which points to fading bullish pressure in the short run, even if it hasn't triggered a full reversal signal yet.
What's keeping the longer-term picture intact is the position relative to moving averages. ZEC sits above both the 50-day EMA at $489 and the 200-day EMA at $407. As long as those levels hold, the broader uptrend remains technically alive. A daily close beneath $489 would change that calculus quickly, opening the door to a deeper drop toward $407.
To the upside, the hurdle at $581 is the one to watch. A clean break there could set up a run toward the previous swing high near $690. That move hasn't happened yet, and until sellers are cleared from that trendline, the path of least resistance stays sideways to lower.
This article is for informational purposes only and does not constitute financial advice or an investment recommendation.
