Zcash Price Breakout Extends With Volume Support — No Sign of Exhaustion Yet

Zcash (ZEC) is experiencing a significant market recovery, gaining over 230% month-on-month and 1,200% in three months after breaking out of its flag pattern on October 24. Analysis of market indicators suggests the uptrend is robust, showing no immediate signs of exhaustion. The Chaikin Money Flow (CMF) is positive (+0.21), indicating strong buying momentum from large investors, while spot netflow data shows a massive 91% drop in exchange selling, suggesting retail pressure has subsided. Furthermore, the On-Balance Volume (OBV) has maintained an upward trend since early October, confirming the rally is backed by genuine volume. Technically, Zcash is eyeing the $594 resistance level (1.618 Fibonacci extension) following its flag breakout; a move above this could target $847, while $384 remains the key support level.

(Source：BeInCrypto)