Zcash Buyers Pull $17 Million Off Exchanges as Price Pauses — What Comes Next?
Despite a price pause after a 700% rally, Zcash shows underlying buyer strength with $17 million in net outflows from exchanges.Summary
Zcash (ZEC) has experienced a significant rally, increasing over 700% in three months, but is currently pausing within a tightening triangle pattern. On-chain data suggests buyers remain in control, evidenced by the dominance of buyer-led volume (blue bars) and a recent sharp shift to net outflows from exchanges, totaling about $17.34 million on December 13, indicating accumulation rather than distribution.
The immediate price action is consolidating, but the broader uptrend structure remains intact as long as the rising trend line holds. For the bullish continuation, Zcash needs to break the key resistance level at $511, which would target subsequent levels at $549 and $733. Conversely, a drop below $430 would weaken the current triangle structure, with critical support found near $391 and $301.
(Source：BeInCrypto)