Zcash (ZECUSD) edged slightly higher in its recent intraday trading, attempting to recover part of its previous losses while also working to relieve its clearly oversold Stochastic conditions, especially as a bullish crossover begins to form. Despite this, the asset remains under the influence of a short-term descending wave, trading along a downward-sloping trendline and continues to face negative pressure from trading below the 50-day simple moving average, which limits its near-term recovery potential.

Therefore, we expect the price to decline in upcoming intraday sessions, as long as resistance at $41.30 holds, targeting the key support level at $36.35.

Todays price forecast: Bearish.