Zcash has undergone a strong appreciation in this cycle, rising more than 700% in three months, and now enters a consolidation phase after the recent high. Despite the short-term pullback, the data indicates that buyers remain in control.
Even with the reduction in volume, the bullish structure remains intact, with the price respecting the upward trend. The net outflows of around US$ 17 million from exchanges reinforce the accumulation scenario and reduce selling pressure.
To resume the rise, Zcash needs to break through the region of US$ 511. If this occurs, the next targets are at US$ 549 and US$ 733. On the negative side, losing US$ 430 could lead the price to seek support at US$ 391 and, in a weaker scenario, US$ 301.
