ZEC tests $1,140 after a 31% pullback from its peak

Zcash (ZEC) traded near $1,163 on October 14 at 15:22 UTC, according to the ZEC/USD daily chart on TradingView. Its intraday low near $1,145 brought the price close to the 38.2% Fibonacci retracement at $1,140, a level derived from the advance that carried ZEC from $250 to $1,690. After that rally, which saw Zcash overtake Hyperliquid, the token now sits roughly 31% below its peak. Measured against the move's starting point, however, the correction has so far given back only part of the advance: even at $1,163, ZEC still trades at more than four times the roughly $250 level where the rally began.

The $1,140 zone has come under repeated pressure in recent days. Several candles briefly dipped below it before recovering, leaving lower wicks around the same price band. Those reactions indicate that buyers have consistently stepped in near support, although the rebounds have yet to reverse the broader decline. The current move therefore represents another test of an established floor: a brief dip beneath $1,140 would mirror the pattern of recent sessions, while a daily close below it followed by a failed recovery would signal more clearly that the support is weakening.

The area also coincides with September trading, when ZEC moved through this band before accelerating higher. It now functions as a confluence of a Fibonacci retracement, earlier consolidation, and multiple recent price reactions — a combination that tends to draw heightened attention, since several independent references point to the same zone.

ZEC recovered modestly from its latest intraday low, though the daily candle remained open at the time of writing. That leaves the session's closing level as the deciding data point for this test of $1,140. Recent candles show the gap narrowing between support near $1,140 and the rising 50-day SMA above it: buyers have defended the lower area, while recovery attempts have struggled around the moving average.

The 50-day SMA stands in the way of a rebound

The 50-day simple moving average near $1,230 is the first potential hurdle for any rebound. Holding $1,140 would help contain the decline, but reclaiming the average would strengthen the case for a recovery. Above it, the 23.6% Fibonacci retracement near $1,350 is the next upside level to watch; a recovery through that area would put the earlier peak near $1,690 back into consideration.

The daily relative strength index (RSI) was near 42.6, below the neutral 50 level and consistent with weaker momentum, though it remained above the conventional oversold threshold of 30 — meaning the pullback had cooled momentum without yet pushing the indicator into oversold territory.

Losing $1,140 would bring $970 into focus

A daily close below $1,140 followed by a failed recovery would shift attention to the 50% Fibonacci retracement near $970. That level sits just below the round $1,000 mark, a price zone that traders often treat as a reference point. Further down, the rising 100-day SMA is near $882, and the 61.8% Fibonacci retracement lies lower still, near $800, providing a separate reference if the correction extends.

The $800 area also overlaps with ZEC's early September consolidation, when price traded around that level before the rally accelerated. A return there would erase a larger portion of the advance and test whether the earlier trading zone can provide support.\nThis article is provided for informational purposes only and does not constitute financial or investment advice. Technical levels and indicators are interpretive tools, not guarantees of future price movement.