It has been a long time since Zcash showed its fangs, but on-chain data is starting to tell a different story. There is a significant technical bounce from the historical bottom area, indicating that selling pressure may have reached a saturation point.

ZECUSDT

Perp

217.24

+2.00%

Trend changes in privacy assets like $ZEC often become an interesting indicator of capital rotation that technical market observers should monitor more closely.