Zcash (ZEC) Pulls Back 30% From September Peak to Test 50-Day Average

Zcash Tests Its 50-Day Line

Zcash (ZEC) traded near $1,196 early on Wednesday, roughly 30% below the $1,700 high it set in late September, and the drop has carried the privacy asset, whose zero-knowledge design traces back to the original Zcash Ceremony, onto its 50-day moving average for the first firm test of this pullback. The decline follows a steep climb that began in August, one of the strongest runs of the quarter, so a correction of this size is not unusual on its own. What matters now is the line the price sits on. Support starts at $1,120, the recent low, then runs through $1,050 to $1,100, where ZEC paused in September before extending its rally, with the 100-day average near $985 and the 200-day near $760 as the deeper floor. Overhead, resistance begins at $1,230, then $1,290, then $1,350, the last two coinciding with the shorter averages stacked above the market. Wednesday's candle carries a long lower wick down to $1,123, evidence that buyers are defending the area, though the rebound has stayed below $1,230 and the 20-day average near $1,290 still sits overhead. A bounce that stays under its first resistance layer on thin turnover rarely lasts, and so far this one fits that description. Momentum readings agree: the RSI has slipped under 50 and volume has thinned over recent sessions, leaving neither side fully in control. The larger trend remains up because every major average slopes higher, but the short-term direction is down, and a daily close under $1,120 would break the 50-day line and hand the chart to $1,050 and then the $985 support. Bulls need a daily close above $1,230, and then $1,290, to argue the correction has ended. The 30% drawdown is the steepest on Wednesday's technical board, and it frames the wider picture the other charts confirm.

SHIB, DOGE and XMR Mirror the Setup

Wednesday's board shows the same seller-led setup on the other three charts. Shiba Inu (SHIB) trades near $0.00000521 after Monday's sharp drop pushed it under its 100-day moving average, which sits near $0.00000530 and now acts as resistance. Buyers defended the $0.0000050 round number, and today's small green candle carries a lower wick down to $0.00000502, but the bounce is running on low volume. Support sits at $0.00000500 first, then the $0.00000475 to $0.00000490 band from September, while resistance runs from $0.00000530 to $0.00000542 with the 200-day average near $0.00000563 beyond it. SHIB never reached that 200-day line in late September and has drifted lower since. Buyers need a daily close above $0.00000530, ideally $0.00000542, to reopen the $0.00000600 target; a close under $0.0000050 opens the September band and the August low near $0.00000440. Dogecoin (DOGE), the largest of the four by market cap, repeats the pattern at another scale: the price sits near $0.0845 after a 5% bounce off the defended $0.0800 floor, with every moving average stacked overhead, from the 100-day near $0.0862 through the 50-day near $0.0877, the 20-day near $0.0890 and the 200-day near $0.0928. That 200-day line is where DOGE failed in late September, and with the RSI below 50 and bounce volume modest, the recovery stays unproven until a close above $0.0862. Losing $0.0800 would target $0.0780 and then the $0.0700 zone where the coin traded in July and August. Monero (XMR) is the relative exception. It holds above its 50-day average near $515 inside a $515 to $545 range, about 17% under the September peak near $635, a quick spike that was sold fast and left the real top zone closer to $590 to $600. A recent wick to roughly $483 was bought back immediately, the kind of reaction that points to crypto whale demand below $500, and falling volume through the pullback suggests sellers are not pressing. A close above $545 targets $560 and then $590; a close below $515 returns the chart to $483 and then the 100-day average near $472.

Profit-Taking, Not Capitulation

Our read of the four boards: this is profit-taking, not capitulation. Three of the four charts carry an RSI below 50, every bounce is running on thin volume and none of the key averages has been reclaimed, which means there is no FOMO bid chasing these moves and no panic exit under them either. That mix usually resolves through a decisive daily close rather than a slow drift, and the closing levels are already drawn: $1,120 against $1,230 for ZEC, $0.0000050 against $0.00000530 for SHIB, $0.0800 against $0.0862 for DOGE and $515 against $545 for XMR. ZEC stays the cleanest gauge, and the gap back to its $1,700 peak, roughly 40% above the current quote, measures how much momentum this correction has already worked off.