Price Prediction
ZEC Price Predicted to Hold $1,200 or Extend Losses
Zcash (ZEC) suffered a 7.34% drop on October 22, falling below the $1,200 level. The token had briefly climbed above $1,300 before sellers took control. Traders are now watching the $1,200 support level for signs of weakness. Futures market data suggests declining open interest, indicating changing market exposure. The token remains above the 50-day moving average at $1,193, with potential support in the $1,190 to $1,200 zone. If buyers defend this area, ZEC could preserve part of the recent recovery. However, a decisive break below $1,190 could weaken the bullish outlook and expose ZEC to further declines below $1,100. On the upside, ZEC faces immediate resistance between $1,240 and $1,260, with a sustained move above this range potentially strengthening the short-term recovery towards resistance levels between $1,320 and $1,360.