Zcash, one of the strongest-performing cryptocurrencies over the past few weeks, has lost momentum and is consolidating below recent highs.
The token's price stalled near the $620 resistance zone after completing its measured move target from a multi-month cup-and-handle breakout pattern.
Profit-taking pressure increased following the sharp rally, while the MACD began signaling a possible bearish crossover on the daily chart.
If bearish momentum strengthens further, Zcash could retest the key breakout support near the $400 region, which now acts as the most important level bulls need to defend to preserve the broader bullish structure.