Zcash (ZEC) Breakout Stalled By Big Money — Here’s Why It Might Not Affect The Price
Zcash's recent rally pause is due to large investors easing off, but strong retail conviction and bullish technical patterns suggest the uptrend will continue.Summary
Zcash (ZEC) has seen a massive rally, gaining nearly 470% over three months, but its recent price consolidation near $250 is due to large investors, or 'whales,' taking profits, as indicated by a sharp drop in the Chaikin Money Flow (CMF).
However, this pullback is not necessarily bearish because retail traders are sustaining the momentum, evidenced by ZEC's net flow flipping toward outflows (suggesting accumulation) and a growing shielded pool, which locks supply and reinforces confidence in privacy features. Furthermore, technical analysis shows strength beneath the surface; a hidden bullish divergence is forming on the Relative Strength Index (RSI), mirroring a pattern that preceded the last rally.
If this continuation pattern holds, ZEC is expected to target resistance levels at $284 and $314. A drop below $247 or $209 could signal temporary weakness, while a breach below $187 would invalidate the current bullish structure.
(Source：BeInCrypto)