Key Insights
Zcash trades around $452 after breaking a descending channel and forming higher lows on strong RSI momentum.
Shielded ZEC supply has grown to 29 percent of circulation, reflecting long-term holder behavior amid reduced market liquidity.
Zebra 3.1.0 improves network performance and compatibility, reinforcing infrastructure without immediate price impact.
Zcash (ZEC) is trading around $452 after exiting a descending channel that had controlled price movement through early December. This breakout coincided with a Supertrend shift near $418, indicating a potential loss of control by sellers. Since then, price action has shifted, with ZEC forming higher lows and approaching a key resistance zone between $450 and $460.
Momentum indicators have confirmed this change in sentiment. On the two-hour chart, the Relative Strength Index (RSI) has reached 70, highlighting buyer strength. During the previous downtrend, the RSI repeatedly failed below 60, suggesting that the current rally is supported by stronger conviction.
Daily Chart Faces Resistance Despite Rally
Despite recent gains, ZEC remains under several daily exponential moving averages. The 20-day EMA sits around $423, while the 50-day is near $416. Both levels have seen recent interaction. The 100-day and 200-day EMAs, which are lower at $346 and $245 respectively, outline a longer-term bullish structure that began forming in November.
Source: TradingView
The price is now testing the upper Bollinger Band near $480, a level that previously triggered pullbacks. While this move marks progress, the broader structure remains compressed. Price action shows signs of forming a triangle pattern rather than reversing fully into an uptrend.
Shielded Supply Growth Reflects Long-Term Positioning
On-chain metrics show an increase in Zcash's shielded supply, which has now reached approximately 29 percent of the total circulating supply. This trend continued even when price performance lagged. The consistent migration of funds into shielded addresses reflects growing long-term interest rather than speculative trading.
This change could lead to reduced sell pressure in future corrections, as fewer coins remain liquid and available in public markets.
Zcash development continues to advance. The release of Zebra 3.1.0 brings improvements to Docker compatibility across ARM64 and AMD64 architectures, easing deployment for Apple Silicon and cloud environments. The update also introduces a mempool dust filter, helping to reduce network spam and resource usage.
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