Zcash has dropped below the $335 mark as bearish signals intensify, with the cryptocurrency losing over 8% in recent sessions. The decline follows a sharp rally last week, with traders now closing long positions, as evidenced by a significant drop in open interest from $763 million to $560 million. The long-to-short ratio falling below one further indicates a bearish market sentiment.Despite the pullback, Zcash remains above key exponential moving averages, clustered between $281 and $292, suggesting broader trend strength. However, short-term indicators show cooling momentum, with the $327 Fibonacci retracement level providing immediate support. Resistance is noted near $372, potentially slowing recovery attempts. The market is currently in a consolidation phase, with traders closely monitoring volatility and positioning for further directional moves.