Key Notes
- ZCash price action continues to respect an ascending trendline, with strong demand identified between $388–$400.
- On-chain data shows a newly created wallet withdrew 30,000 ZEC, worth $13.25 million, from crypto exchange Binance.
- ZEC is also leading daily capital inflows at nearly $67 million.
As the broader crypto market shows signs of consolidation, ZCash
ZEC
$447.5
24h volatility:
9.3%
Market cap:
$7.37 B
Vol. 24h:
$699.38 M
has defied the trend with 10% upside on Dec. 25. ZEC is now trading at $446 levels with its market cap soaring past $7.3 billion once again. The trading volumes have also jumped significantly, showing renewed buying interest for the asset.
ZCash (ZEC) Price Eyes Crucial Breakout
ZCash continues to respect the ascending trendline, which shows that buyers are currently in control. Market participants are closely watching a key demand zone near $400, wherein the price can retrace once again before further upward journey, noted crypto analyst AtomB.
Technical analysts note that a successful hold above this demand area would keep the bullish setup intact. This could further open the door for a move toward the $476 resistance zone.
However, failure to defend support near $380 would weaken the current setup, and could lead to greater correction ahead.
Zcash (ZEC) price is showing clear liquidity-driven price levels, according to data from CoinAnk’s liquidation heatmap. The chart shows a strong support zone between $388 and $400, with dense liquidation clusters showing a high concentration of long positions. CoinAnk noted that this area could act as a rebound magnet, with price dips potentially triggering short squeezes and sharp recoveries.
On the upside, there’s a strong resistance between $450 and $460. Heatmap data shows intense liquidation activity in this range. Previous moves in this region have led to short liquidations. CoinAnk’s data also shows that Zcash is currently leading daily capital inflows, attracting approximately $66.96 million.
ZEC Whale Purchases
Blockchain analytics firm Lookonchain reported that a newly created wallet has withdrawn a large amount of Zcash from Binance. According to the data, the wallet, identified as t1XKfb, withdrew 30,000 ZEC, worth approximately $13.25 million, from the exchange around nine hours ago.
Today’s ZCash price rally comes with a 50% surge in daily trading volumes, to now at $709 million. This shows that the overall sentiment remains bullish for further upside action.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Bhushan Akolkar on X
Source: https://www.coinspeaker.com/zcash-zec-price-shoots-whale-scoops-coins/
