Zcash (ZEC) fell to approximately $312 on January 31, 2026, marking a weekly loss nearing 15%. Analysts note the asset is testing key support zones within descending and symmetrical triangle patterns. Technical indicators like the RSI and MACD remain bearish, while trading volume increased alongside a rise in liquidations that reached $5.22 million.
Zcash (ZEC) traded near $312, having declined over 7% in 24 hours and nearly 15% for the week according to CoinMarketCap. Its 24-hour trading volume rose to $478.4 million despite the broader altcoin market’s negative sentiment.
Analyst Bit Amberly highlighted that ZEC was testing the lower boundary of a descending triangle. He noted that the zone was an important structural support zone for the altcoin and was largely responsible for its recent movements.
Another analyst, CryptoBull, mentioned ZEC was consolidating in a symmetrical triangle. He added the token was still trading above its support trendline, which has held during recent movements.
The daily chart’s Relative Strength Index (RSI) registered at 35.99, indicating weakening momentum. The Moving Average Convergence Divergence (MACD) also showed bearish signals with its line at -25.38.
CoinGlass data shows total futures volume increased to $1.34 billion while Open Interest fell to $519.55 million. Total liquidations over the past day reached $5.22 million, with long positions accounting for $4.94 million of that figure.
