While the market is watching the majors, Zcash ($ZEC ) is showing impressive dynamics. The price has now reached $340, which is very close to a key level that could change everything.
📊 Technical Analysis: Battle for the Trend
Zcash has finally broken out of the accumulation zone. On the daily chart (1D), we see confirmation of the strength of buyers:
• Price: $340 (confidently above MA50 — $266).
• Main barrier: $349 (MA200). This is a “lifeline”. Consolidation above this level on the daily timeframe will mean the official transition to a global bullish cycle.
• RSI (14): Located at level 48. This is an abnormally strong signal! The price has risen sharply, but the indicator remains in the neutral zone. This means that the asset is NOT overheated and has a huge margin to break $350.
• Support: The $310-$315 zone now acts as a solid base in case of local retests.
🐳 On-chain insider: Smart money in action
There are not only technical factors behind this move, but also big capital:
1 Exchange exit: We continue to observe a massive outflow of ZEC to cold wallets. The supply on exchanges is rapidly falling.
2 Golden cross (1H): On the hourly timeframe, the MA50 and MA200 have already crossed, which became the trigger for the current momentum.
3 Scarcity effect: Whales have accumulated significant volumes in the $300-$315 range, and now we see a phase of active price movement upwards.
💡 Conclusion:
$ZEC is on the verge of a historic moment. If the daily candle closes above $350, the next target will be the $390-$400 zone. However, it is worth remembering about volatility - the market always gives chances to those who adhere to the strategy and risk management.
This material is a subjective analysis and is not financial advice. Always do your own research (DYOR).
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