- ZEC traded near $980 on November 11 after falling 10.2% the previous session.
- Zcash faces resistance at $1,158, with $853.99 marking a 26.3% downside move.
- CoinGlass recorded about $40 million in ZEC liquidations, mostly from long positions.
Zcash fell sharply after losing a key trading zone, putting the $1,158 resistance area at the center of its next technical test. For ZEC, the price analysis identifies $853.99 as a conditional downside objective, not a confirmed destination.
| Indicator | Reported Value |
| November 11 Price | $980 |
| November 10 Decline | 10.2% |
| Daily RSI | 37 |
| Four-Hour RSI | 23.3 |
| Bearish Breaker | $1,158 |
| Downside Target | $853.99 |
Zcash Price Breakdown Puts $1,158 Breaker and $854 in Focus
Zcash retreated from above $1,380 on November 6 and closed November 10 near $1,046, a reported daily loss of 10.2%. On November 11, CoinGlass showed ZEC near $980, with an intraday low around $961.
The slide placed prices below $1,158, now treated as a bearish breaker. In this price analysis, that level represents resistance where a recovery faces renewed selling pressure. Before reaching $1,158, ZEC would encounter resistance around $1,073 and $1,130.
ZEC Faces $1,213 Resistance as Sellers Target $853.99
Zcash price analysis further identifies $1,213.71 as a higher resistance beyond the breaker. Historical data showed a November 8 close near $1,213, but the weekly order-block designation needs chart confirmation.
A sustained close above $1,158, followed by a move through $1,213.71, would weaken the bearish setup. By contrast, a brief move above resistance without follow-through would leave the risk of a bull trap. The bearish price analysis instead tracks support at $948.58 and $868.22 before $853.99.
Measured from $1,158, that final level represents approximately 26.3% downside. These are, however, conditional chart levels, not confirmed zones. For ZEC, the distinction matters as oversold readings alone do not demonstrate that buyers have regained control.
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Bitcoin Weakness and $40M Liquidations Pressure Zcash
Zcash price analysis comes amid broader cryptocurrency market weakness, as Bitcoin slipped below $74,000 following a hotter-than-expected U.S. inflation report. According to the Bureau of Labor Statistics, headline inflation rose 0.4% in October, exceeding the 0.3% forecast.
Meanwhile, core inflation increased 0.3%, above expectations of 0.2%, as Treasury yields and the U.S. dollar strengthened. Against this backdrop, selling pressure extended into the cryptocurrency derivatives market. CoinGlass reported approximately $40 million in ZEC liquidations over 24 hours, with long positions accounting for most of the losses.
That imbalance reflected heavy pressure on leveraged bullish trades. The price analysis therefore centers on whether Zcash can reclaim $1,158 and hold above it. Until that confirmation appears, $853.99 remains the stated downside target for the rejection scenario.
Key ZEC Support and Resistance Levels
| Price Level | Technical Significance |
| $1,213.71 | Higher resistance |
| $1,158 | Bearish breaker |
| $1,130 | Intermediate resistance |
| $1,073 | Initial recovery resistance |
| $948.58 | Immediate support |
| $868.22 | Secondary support |
| $853.99 | Bearish downside target |
Bearish Case
Rejection at $1,158 would preserve bearish pressure, exposing $948.58 and $868.22 before the $853.99 downside target.
Bullish Case
Sustained recovery above $1,158 and $1,213.71 would weaken the bearish structure and signal improving buying momentum.
FAQs
It represents a bearish breaker where renewed selling could emerge.
The identified bearish objective stands at $853.99.
The four-hour RSI near 23.3 indicates oversold conditions.
A sustained reclaim above $1,158 and $1,213.71 would weaken it.
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Related: Ethereum Price Analysis: $2K Weekly Liquidity Sweep Could Spark a $3.7K Rally
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