Zcash (ZEC) has plunged about 62% year to date and is currently trading within a tight range between $205 and $225 — a key technical support area.A break below this area could see Zcash drop a further 30%, with a price target of $120.Technical indicators have reinforced the bearish momentum, with the Money Flow Index (MFI) falling to 18 and the Relative Strength Index (RSI) also trading below 50, indicating continued selling pressure and weak buying.While the accumulation of liquidity above current prices suggests a rebound is likely in the near term, overall market sentiment remains fragile and ZEC remains at risk of further declines.