This Is How Zcash May Be In For A Breakout Rally

Zcash (ZEC) price action is showing renewed strength after a period of sideways movement, supported by growing investor confidence and accumulation across key metrics. Technical analysis indicates a bullish divergence on the Chaikin Money Flow (CMF) indicator, suggesting hidden accumulation despite recent lower price lows, with the CMF now above the zero line signaling net inflows.

Further supporting this bullish outlook is on-chain data showing that large holders (whales) have been steadily accumulating ZEC over the past week, increasing their holdings by about 6.7%. ZEC is currently trading near $396 within a triangle pattern, suggesting an impending larger move. A decisive breakout above the $450 resistance level could propel ZEC toward $504 and potentially $540. Conversely, if selling pressure emerges and ZEC breaks below the triangle's support, the bullish setup would be invalidated, risking a drop toward $340.

(Source：BeInCrypto)