$ZEC is showing signs of stabilization after a brutal correction from the $694 high. The daily chart reveals a sharp capitulation event that pushed price as low as $251 before buyers aggressively stepped in. Since then, ZEC has recovered significantly and is currently trading around $413, proving that demand remains active at lower levels.

The recent bounce came with a noticeable increase in volume, suggesting strong accumulation rather than a weak relief rally. However, price still trades below the MA10 and MA20, which means the broader trend remains bearish until key resistance levels are reclaimed. Bulls need to push above the $440-$460 zone to confirm a trend reversal and open the door toward $520 and potentially higher.
On the downside, the $380-$400 region is acting as immediate support. Holding this zone would maintain the current recovery structure. A loss of support could trigger another retest of lower levels around $320-$350.
What makes ZEC interesting is the strength of the rebound after the flash crash. Markets often leave strong clues after extreme volatility, and the reaction from buyers suggests that large participants were willing to absorb supply aggressively.
As long as support remains intact, ZEC could continue building a base before its next major move. The coming days will determine whether this is the beginning of a larger recovery or simply a temporary bounce within a broader downtrend.