$ZEC Analysis : Zcash Buyers Pull $17M Off Exchanges as Price Pauses — What Comes Next?
Zcash has delivered one of the strongest rallies this cycle, surging more than 700% in just three months before entering a consolidation phase. After last week’s sharp push higher, price has cooled slightly, raising concerns about whether momentum is fading or simply resetting. So far, on-chain and volume data point to the latter.
Technically, ZEC is trading within a tightening triangle while still respecting its rising trendline. This structure signals temporary indecision rather than a trend reversal. Volume has cooled, but buyer-led activity continues to dominate. Similar pauses earlier in the cycle, notably in mid-October, preceded another explosive rally, suggesting that declining volume alone is not enough to invalidate the uptrend.
Spot flow data strengthens the bullish case. On December 13, Zcash recorded roughly $17 million in net exchange outflows, flipping sharply from the previous day’s inflows. Coins moving off exchanges typically reduce immediate sell pressure and often reflect accumulation during pullbacks rather than distribution into strength.
Despite a modest 2.5% pullback over the past 24 hours, ZEC remains up around 20% on the week, with the broader trend intact. The key level to watch on the upside is $511. A daily close above this resistance would confirm a bullish breakout, opening the door toward $549 and potentially higher extensions.
On the downside, losing $430 would weaken momentum and expose deeper support near $391.
