Zcash At Initial Weekly Support After Substantial Up MoveZcash / TetherUSBINANCE:ZECUSDTDukesMarketAnalysisFirst Major Support Test • ZEC has pulled back into its first significant support zone around $530 after a powerful rally from the February and April lows. • This area previously acted as resistance and is now attempting to flip into support. Trend Remains Constructive • Despite the recent weakness, price remains well above the major swing low at $299 and the broader structure still consists of higher highs and higher lows. • The weekly chart continues to hold above its key moving averages, keeping the medium-term trend positive. Volume Offers Encouragement • The recent pullback has occurred on declining volume, suggesting selling pressure is beginning to ease. • Ideally, bulls now need volume to expand on any rebound from current levels. Momentum At A Decision Point • RSI remains above 50 on the weekly timeframe, maintaining a bullish bias despite cooling momentum. • Meanwhile, the daily StochRSI has become extremely oversold, a level that often precedes at least a relief bounce. In Summary Zcash finds itself at an important technical crossroads after an explosive advance earlier in the year. The retreat into the $530 support zone is the first meaningful test of demand since the rally began, but the decline has occurred on weakening volume rather than aggressive distribution. With weekly momentum still constructive and daily oscillators oversold, bulls retain a reasonable case. However, failure to hold this support could open the door to a deeper retracement towards the next Fibonacci levels below.