ZEC's recent trend is not very optimistic, clearly in a short-term correction phase. From the daily chart, the price has already broken through several important moving averages, and the downward momentum is quite strong.

The selling pressure is around $450-495, where trading was very dense before, making rebounds easily met with resistance. The $400-410 range is also a relatively easy area to get stuck.

The key for buyers to hold is here—the first line of defense is $370-381, which is currently under serious test. If this cannot be held, then the focus shifts to the $300-307 level, which is not only a psychological barrier but also an important Fibonacci retracement level, with significant technical implications.

Interestingly, XMR is performing very well; the stronger it gets, the weaker ZEC becomes. Funds are clearly concentrating on the leading coin, which is a typical market divergence signal.