The post ZEC Technical Analysis Jan 31 appeared on BitcoinEthereumNews.com.

ZEC’s current price is at the $301.08 level, with critical support at $298.34 positioned just below; short-term downtrend dominates but RSI 34.68 gives oversold signals. Current Price Position and Critical Levels ZEC has pulled back to $301.08 with a 11.48% drop in the last 24 hours and traded in the $274.40-$341.61 range. The overall structure is in a downtrend; price remains below EMA20 ($373.90), Supertrend indicator gives bearish signal, and resistance is positioned at $421.04. On the 1D chart, there was a quick pullback from recent lows, but volume at $1.02B provides high-level support. Multi-timeframe (MTF) analysis identified 12 strong levels: 2 supports/3 resistances on 1D, 1S/1R on 3D, 2S/4R confluence on 1W. Price is currently near the lower band of the 1W downtrend channel, in a sensitive area for potential liquidity hunt. Although RSI 34.68 points to oversold territory, momentum is weak; a close above $305 is required for bearish Supertrend flip. Support Levels: Buyer Pools Primary Support $298.3356 (Strength Score: 75/100) – This level stands out as ZEC’s most critical buyer zone. Why? There’s a strong order block (OB) formation on 1D and 3D timeframes; tested 3 times in the past and bounced +5% each time. High volume node (HVN) confluence in volume profile, meaning institutional buyers are concentrated here. Additionally, it coincides exactly with the 0.618 Fibonacci retracement level and EMA50 ($297.20); aligned with extension fibo from the last 24h low of $274.40. If this support breaks, liquidity sweep (stop hunt) triggers, enabling a quick drop to $290s. Historically, in similar setups (RSI<40, downtrend), average 8.2% recovery from this OB was observed. Ideal long entry zone for buyers, invalidation below $295. Secondary Support and Stop Levels $239.9900 (Strength Score: 65/100) – Secondary support defined as demand zone on 1W timeframe; 100% aligned with October 2025 swing low,…

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Filed under: News - @ February 1, 2026 12:32 am