$ZEC Analysis : Can Zcash (ZEC) Maintain Its Uptrend and Approach $480?

Zcash (ZEC) is showing clear bullish sentiment amid a recovering crypto market, as demand continues to drive its recent breakout attempts. Strong buying momentum and a surge in long positions have added force to the uptrend, helping traders establish a clearer market direction.

According to Binance data, ZEC is trading around $397, up 16.01% in 24 hours. Trading volume has jumped to $965 million, a 45% increase, signaling renewed capital inflows and growing market participation. On the daily chart, ZEC is challenging key resistance at $383 and testing the downtrend line formed since November 20. However, repeated failures to close above this level over six sessions suggest selling pressure remains significant, keeping the overall trend slightly bearish.

In a bullish scenario, a decisive close above $385 could trigger a rally toward $480, the next major resistance cluster. Conversely, failure to surpass $385 may stall the current momentum. Technical indicators are mixed: the ADX at 22.91 reflects moderate trend strength, while the 200-day EMA below price continues to serve as long-term support.

Derivatives data from CoinGlass show traders holding strong long positions, with liquidation zones at $366.4 and $407.4 defining clear support and resistance. Funding rates rising to 0.0064% reinforce long sentiment, yet on-exchange outflows suggest potential selling pressure. Notably, $12.18 million flowed into ZEC spot markets over 24 hours, indicating some investors may prepare to take profits near resistance, hinting at volatile sessions ahead.

DASHUSDT

Perp

48.06

+5.67%

ZECUSDT

Perp

407.06

+16.37%