The Zcash price has shown a significant increase in this cycle, rising over 700% in three months, followed by a healthy pause. After rising strongly again last week, the price is now pulling back a bit. This raises questions about whether the momentum is disappearing or just being adjusted for a moment.
Although the short-term price movement looks uncertain, on-chain and volume data show that buyers may still have control. The next step depends on whether Zcash can turn the consolidation into the next upward movement.
Buyers maintain control despite cooling volume.
The Zcash price is currently moving in an increasingly narrow triangle, indicating short-term uncertainty between buyers and sellers, not actual weakness. Importantly, the price is still following the rising trendline that drives the upward movement this cycle. As long as this structure remains intact, the bigger picture remains positive.
The volume behavior provides extra context. With Wyckoff volume analysis, blue bars indicate that buyers dominate, while yellow and red bars show an increasing control of sellers.
Although buying volume has cooled somewhat recently, the blue bars still prevail. A similar delay occurred after October 17, when buying pressure temporarily weakened. After that, Zcash still rose by more than 300%.
Only a declining volume did not mean the end of the rising trend. As long as the blue bars remain, the rally is likely to stay strong, even with temporary pullbacks.
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Spot flow data underscores this picture. Spot flows show whether coins are being moved to or away from crypto exchanges.
Inflow may indicate more selling pressure, while outflow often suggests accumulation. On December 12, Zcash recorded approximately $14.26 million in spot inflow, meaning coins were moved to exchanges.
On December 13, this reversed to approximately $17.34 million in net outflow, meaning coins were taken off exchanges at that time.
That shift is important. Outflow at exchanges reduces immediate selling pressure and often means that spot buyers step in more during a pullback, rather than selling after a rise.
Despite a modest decline of about 2.5% in the last 24 hours, Zcash is still about 20% higher than a week ago and more than 700% higher than three months ago. The trend is not broken. It is consolidating.
Zcash price levels that determine the next step.
For a continuation of the bullish structure, the Zcash price must break out of the triangle. The important level to watch is $511, which is approximately 24% above the current price. A daily close above this level gives a bullish signal and indicates renewed control by buyers.
If that breakout succeeds, the first price target is around $549, followed by $733, which previously acted as resistance in this cycle. Higher resistance levels can be found at $850 and $1,190. Achieving these requires sustained momentum and support from the broader market.
The downside risk is also clear. If the Zcash price falls below $430, the triangle structure weakens. Strong support is around $391. If the price drops below that and the market becomes restless, a decline to $301 may follow.
