Key Takeaways Tuesday’s range runs from about $1,118 to $1,232, after a $1,151 open. The 50-day SMA (~$1,270) and 0.236 Fib (~$1,350) sit 4% and 10% higher. ZEC trades about 28% below its lat
Key Takeaways
ZEC ran more than sixfold between early June and late September, climbing from around $254 to its 2026 peak near $1,690. The correction that followed carved out a short falling channel and dragged price back to the 0.382 Fibonacci level of that rally, near $1,140.
ZEC daily chart, Oct 20. Source: TradingView
The coin spent roughly a week chopping around that level, with wicks dipping toward $1,050, but sellers could not turn those dips into a deeper slide. Tuesday’s session flipped the tone. After a brief dip below its open, ZEC ripped higher and broke above the channel’s upper boundary, though the daily candle has yet to close.
The first is the 50-day SMA near $1,270. ZEC slipped under the average in mid-October, so getting back above it could mark the end of the short-term downtrend rather than just another bounce inside it.
The second is the 0.236 Fib near $1,350. That level marked the start of the October breakdown and capped a mid-month bounce, when a wick reached about $1,345 before sellers took over again.
RSI has turned up to about 49, crossing above its signal line and nearing the 50 midpoint. A push above 50 could signal that buyers are regaining short-term control after three weeks of fading readings.
Bears still have a fair point. The candle is still open, price sits under the 50-day SMA, and the last time ZEC rallied into resistance this month, the move faded within days.
ZEC Price Ladder
September peak$1,690 0.236 Fib · major resistance$1,350 50-day SMA · first hurdle$1,270 Current price$1,224 0.382 Fib · support held so far$1,140 0.5 Fib · below $1,000$970 100-day SMA$920 0.618 Fib$800 200-day SMA · long-term base$690ZEC sits between the 50-day SMA overhead and the support it has just defended below.
Upside
A daily close above the 50-day SMA this week could confirm the channel breakout and open room toward the $1,350 area. A move through that level could put the September highs back in view.
Rejection
A rejection at the 50-day SMA could send ZEC back to retest $1,140. A daily close below it before the end of October could expose the 0.5 Fib near $970.
Bigger picture: ZEC still trades more than 380% above its June low, and all three daily SMAs are rising. A drop through $970 could bring the 100-day SMA and the 0.618 Fib into view.
This article is provided for informational purposes only and does not constitute financial advice. Cryptocurrency prices are volatile.
The post Zcash Price Snaps Back 6% – 50-Day SMA in Sight appeared first on Coindoo.
