Zcash (ZECUSD) remained under mild pressure in recent intraday trading as the cryptocurrency continues to search for a higher low that could serve as a foundation for a renewed recovery. The price is currently finding support at its 50-period Simple Moving Average (SMA), while also holding above a short-term bullish corrective trendline, reinforcing the prospects for regaining positive momentum. In addition, momentum indicators have started to generate a positive crossover after reaching extremely oversold levels, to a degree that appears exaggerated relative to the price action, suggesting that a bullish divergence may be beginning to form.

Therefore, our outlook remains biased to the upside for the cryptocurrency's upcoming intraday trading sessions, as long as support at $455.00 remains intact. Under this scenario, the next target is seen at the key resistance level of $541.00.

Today's price forecast: Bullish.