Zcash Price Rebounds 16% — Can Whale Buying Finally Beat the $300 Risk?
Zcash's price rebounded 16% due to whale accumulation and bullish divergence, but faces resistance from EMAs and fading spot outflows, keeping the $300 risk alive.Summary
Zcash has experienced a short-term price rebound of approximately 16%, driven by aggressive accumulation from large holders ('whales') and a bullish divergence in the Relative Strength Index (RSI). Whales increased their holdings by $5.7 million over the past week. However, this rebound is occurring amidst structural resistance, as the price trades below key exponential moving averages (EMAs), with a potential bearish crossover looming. Spot exchange outflows, while still present, have decreased significantly, suggesting waning retail demand. The Smart Money Index also indicates caution. For a sustained recovery, Zcash needs to break through resistance levels at $408, $459, and $483; otherwise, a drop below $361 could lead to a retest of the $300 level. While smart money positioning on the derivatives side is showing increasing net longs, the overall technical picture suggests that whale buying alone may not be sufficient to overcome the existing risks.
(Source：BeInCrypto)