Rising bullish momentum for Zcash (ZEC): Real reversal or temporary spike? $ZEC $BTC $TREE

Currently, Zcash is trading near $390.84, with a notable increase in daily trading volume exceeding 20.8% to reach approximately $573.97 million. Coinglass data also indicates liquidation worth $4 million over the past 24 hours, reflecting heightened activity and clear volatility in traders' positions.

Critical technical levels for Zcash when analyzing the ZEC/USDT movement in the short term, it appears that buyers are dominating the trend. If the bullish pressure continues, the price may test the nearest resistance level at $400.26. A sustained break above this barrier may provide the momentum needed for a golden cross to form, driving the price towards higher levels that could reach $411.38.

Conversely, if sellers regain control, the price may retreat to re-test the immediate support level at $380.53. Continued bearish correction could strengthen the negative trend and pave the way for a bearish cross, with the possibility of the price dropping below $369.11.

Technical indicators reflect cautious optimism, giving positive signals in the short term. The MACD indicator shows a line above the signal line, indicating the beginning of bullish momentum formation. Additionally, the Chaikin Money Flow indicator records a positive value of 0.11, indicating an influx of money into the currency, with clear support from buyers.#MarketCorrection