Will Zcash Price Pullback or Continue Its Rally Towards $600?
Zcash price faces a potential pullback despite recent gains, indicated by momentum signals and whale activity, with key levels at $527 and $435.Summary
Zcash price has risen approximately 15% over the weekend, approaching a key resistance level, leading to debate about whether the rally will continue or if a pullback will occur. Analysis of the 12-hour chart reveals a hidden bearish divergence in the RSI and a weakening Money Flow Index, suggesting a potential cooldown. On-chain data shows that whale balances have decreased by 7.46% in the last 24 hours, indicating some profit-taking, although larger holders continue to accumulate. The critical price level to watch is $527; a 12-hour close above this level could trigger a move towards $633, while a drop below $435 could lead to further declines. Overall, the analysis suggests a cautious approach, with potential for both a pullback and continued rally depending on market confirmation.
(Source：BeInCrypto)