Zcash (ZEC) Eyes $600 Resistance As Rising Wedge Signals Critical Decision

Zcash (ZEC) is currently navigating a tense phase after rebounding from December lows near $300–$320. Price action has steadily formed higher lows, supported by a rising trendline, but the $500–520 area now serves as a critical inflection zone.

Analysts note that while the medium-term structure remains constructive, ZEC’s position within a rising wedge indicates caution. This pattern, often forming after recovery phases, signals that bullish momentum is waning and that any sharp upward moves could be short-lived without addressing lower liquidity levels first.

Eric Van Tassel had discussed a possible scenario where a shift to $520-540 could constitute a double top, potentially leading to a deeper pull-back to the region around $400. The structurally positive course would be to sweep liquidity around levels of $475-465 before making an attempt to reach levels around $580-600.

It is highly unlikely to test the major macro level of resistance or break into levels above $1,000 without this. Technically, the Zcash finds itself caught in the middle of two opposing camps. First, there is the positive camp, in which the price is making its way towards the deep support line resistance in line with former highs.

Secondly, there is the negative camp in which the $480 to $500 level serves as support in the form of former price consolidation. The momentum indicators are as confusing as they are inaccurate. The RSI is hovering in the mid-50s.

Zcash Consolidation Within a Larger Bullish Structure

Analysis TradingView shows that Zcash is still within a broader bullish trend despite the recent phase of consolidation. The rejection at the Fibonacci Sequence Circles around $600-$700 indicates cyclical resistance, where sellers start to intervene to slow down the price from further rising. Price still respects the rising mid-channel trend.

This is supported by the momentum tools. The MACD moved past the bearish phase in December, as the MACD line crossed above the signal line, but the histogram is shallow. Also, the Range Oscillator is in the positive zone, which means there is less pressure on the market to decrease.

The daily close above $535-$550 with increasing activity would reject the bearish wedge scenario, allowing access to the $610-$680 zone of supply, where macro-seller activity could be observed. Failure to resist the $480-$500 support area could lead to a steep correction towards $425-$400, with a possible revisit to $320-$350 in case the sentiments turn weak in the market.

Also Read: Zcash (ZEC) Pullback Signals Buying Opportunity Ahead of $600 Resistance