Zcash (ZEC) has fallen below the $500 level after reaching a 37% gain following the deployment of the Ironwood (NU6.3) upgrade on testnet on July 2. In one week, ZEC lost 13.6% of its value, with a 3.1% decline in the last 24 hours. Technical indicators, including the RSI dropping below the neutral 50 level and the Directional Movement Index showing -DI rising above 20, signal a short-term bearish trend. The next bearish targets are located at $360 and $250 according to chart analysis and the liquidation heatmap.
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