Zcash price has experienced significant growth this cycle, up over 700% in three months, followed by a healthy pause. After a strong rise through last week, the price is now pulling back, raising questions about whether momentum is waning or simply resetting.
While short-term price development seems indecisive, on-chain and volume data suggest that buyers may still be quietly in the driver's seat. The next movement depends on whether Zcash can turn consolidation into further upside.
Buyers still have control over the structure despite decreasing volume
The Zcash price is currently trading in a tighter triangle pattern, reflecting short-term indecision among buyers and sellers, rather than actual weakness. The most important thing is that the price continues to respect the rising trend line that has guided the rise in this cycle. As long as this structure holds, the basis for further upside remains intact.
Volume behavior provides important context. Using Wyckoff-inspired volume color analysis, blue bars show buyer-driven activity, while yellow and red bars reflect increasing seller control.
Although buying volume has decreased recently, the blue bars still dominate. A similar decline occurred after October 17, when buying pressure temporarily weakened, before Zcash later rose by over 300%.
Decreasing volume alone did not end that trend. As long as the blue bars dominate, the rise is likely to remain strong, despite any pullbacks.
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Spot flow data reinforces this picture. Spot flows track whether coins are moved to or from exchanges.
Inflow suggests potential selling willingness, while outflow signals accumulation. On December 12, approximately $14.26 million was recorded in spot inflow for Zcash, indicating that coins are being moved onto exchanges.
On December 13, this turned sharply to approximately $17.34 million in net outflow, indicating that coins were taken off exchanges instead.
This shift means a lot. Exchange outflows immediately reduce selling pressure and often reflect spot buyers trading during pullbacks rather than selling into strength.
Even with a mild pullback of about 2.5% over the last day, Zcash is still up about 20% last week and over 700% in the last three months. The trend is not broken. A consolidation is underway.
Zcash price levels defining the next step
For the bullish pattern to continue, Zcash price must break out of the triangle. The key level to watch is $511, an increase of 24% from current levels. A clear daily close above this level will confirm a positive breakout and signal new buyer control.
If such a breakout occurs, the first target on the upside is near $549, followed by $733, which has previously been a ceiling for the rise earlier in the cycle. Higher resistance zones are found near $850 and $1,190, but reaching these levels requires sustained momentum and supportive market conditions overall.
Downside risk is clearly defined. If the Zcash price falls below $430, the triangle structure weakens. A strong support level can be found near $391, and a deeper drop could open up to $301 if risk aversion spreads in the market.
