One Level Break Could Send the Zcash Price Above $1,000
Zcash's price rally needs a decisive break above the $748 resistance level, confirmed by volume indicators, to potentially reach $1,010.Summary
Zcash (ZEC) has shown strength, rising nearly 21% in the past week, and the current rally is riding an earlier breakout. The key to pushing the price toward $1,010 and beyond hinges on overcoming the $748 resistance level.
Technical indicators require confirmation: On-Balance Volume (OBV) must break its descending trend line simultaneously as the price clears $748, confirming buying pressure. Additionally, the Chaikin Money Flow (CMF) needs to break above 0.14, signaling strong inflows from large holders.
If ZEC closes a daily candle above $748, the next targets are $1,010 and potentially $1,332, aligning with Fibonacci zones. However, if the price drops below $488, the bullish structure is invalidated, potentially leading to a slide toward $421.
(Source：BeInCrypto)