The Zcash price has struggled to find a clear direction in recent weeks, despite rising over 600% during the three-month window. The token is moving sideways even as other parts of the crypto market attempt to make small recoveries.
This is happening despite new attention from a high-profile voice within crypto. In a recent interview, Arthur Hayes spoke positively about Zcash's design.
Still, ZEC's price movement shows hesitation despite the nearly 4% increase, day by day. Traders are now weighing whether this support is important in the short term or if the charts will determine first.
Arthur Hayes said this about the privacy model
Arthur Hayes is a co-founder of BitMEX and a well-known figure in the cryptocurrency market. In a recent interview with Kyle Chasse, Hayes explained why his view on privacy coins has changed over time.
He said that while Monero was once seen as the strongest privacy option, new data and upgrades changed his thinking. Hayes highlighted Zcash's progress, especially in protected transactions and cryptographic improvements.
“That's one of the reasons I switched from the Monero camp to the Zcash camp when we talk about privacy coins,” he said after 30 minutes into the interview.
What matters here is the context. Hayes did not talk about Zcash's price targets. He did not say that buyers should rush in. His comments focused on technology and design, not market timing.
That difference explains why the price has not reacted yet.
Why the Zcash price has not reacted yet
Despite the attention from Arthur Hayes, the Zcash price has not moved much. The reason is visible on the chart.
First of all, a bearish EMA crossover is forming. EMA stands for Exponential Moving Average. It shows the average price but gives more weight to recent movements.
When the 20-day period falls below the 50-day threshold, it usually means that short-term sellers are stronger than buyers. Right now, the 20-day EMA is very close to crossing below the 50-day threshold. This keeps traders cautious.
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Secondly, the balance volume (OBV) does not help the price. OBV tracks whether the volume is flowing in or out. Between December 12 and 18, the Zcash price fell, and OBV also weakened. This suggests that buyers are not yet building strength. Without a rising OBV, rallies often fail, and downward movements typically do not reverse.
Overall, the picture is clear. The EMA crossover warns of short-term pressure. OBV shows weak follow-through from buyers. This explains why the Zcash price is stuck and waiting for a clear direction.
Arthur Hayes' comments provide long-term confidence, but the chart shows that traders are waiting for technical evidence. Until buyers come in with volume, the price is likely to remain uncertain.
What could determine the next Zcash price movement
Large capital flows provide the clearest clue. The CMF or Chaikin Money Flow indicator has risen between December 11 and 18, while the ZEC price has corrected. This pattern indicates that larger holders are showing interest even as prices remain weak.
CMF is still below the zero line. It matters. A move above zero often confirms real buying. In previous cases, such as early November, the price followed strongly when CMF crossed that level.
For Zcash, the levels are clear. A clean daily close above 434 dollars would show that buyers are taking control again. If that happens, the next critical zone is near 516 dollars.
On the downside, 371 dollars is the first critical support. If the price falls below that level, sellers can push it towards 301 dollars, where previous buying interest emerged.
