ZEC touching 0.61 Fibonacci support wait for pump

On the ZECUSDT chart, we have observed a decisive breakdown below the key $500 support level, resulting in a decline toward the $300 zone. This level now represents a critical technical confluence, aligning with both a historically significant support area and the 0.618 Fibonacci retracement level.

Given the oversold conditions and the strength of this Fibonacci-support confluence, a technical rebound toward the $500 level—now likely to act as resistance—is plausible. Such a move would be characteristic of a retest of the broken support level, which, if rejected, could result in a continuation of the downtrend. Should the $300 support fail to hold, the next significant structural support would become the primary focus.

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