Zcash (ZEC) Charts Hint at a Possible 38% Breakout, But Optimism is Fading
Zcash is in an ascending wedge pattern suggesting a potential 38% breakout, but fading investor optimism threatens this bullish outlook.Summary
Zcash (ZEC) price is currently consolidating within an ascending wedge formation, which typically signals a potential breakout move. Technical analysis suggests this rally could lead to a 38% surge, targeting $802, provided the price can flip the $600 level into support.
However, general investor sentiment has turned negative following a brief positive shift at the end of 2025, which limits follow-through buying and increases the risk of momentum loss. Conversely, the top 100 Zcash holders have maintained a bullish stance, increasing their combined holdings by about 6% over the past week, suggesting confidence in ZEC's medium-term prospects.
If sentiment continues to deteriorate without major holder support absorbing selling pressure, the bullish structure could break down, potentially sending ZEC price toward $442 and invalidating the breakout thesis.
(Source：BeInCrypto)