TLDR
- Zcash price rebounds from a sharp dip to exceed $690, showing renewed bullish strength.
- Market activity intensifies, with Zcash volume surging to $4.34B, signaling expanded trader participation.
- Price action forms volatile swings within a steady range, revealing alternating market action.
- Technical analysis shows Zcash holding above the Bulls’ Confidence Point at $684.
- Key resistance sits at $740, with potential retests at $660 or $630 if pressure increases before a breakout attempt.
Zcash, a privacy-focused digital asset developed within a decentralized blockchain, has been the center of talk after accusations of a planned pump. During today’s Asian trading session, Zcash opened its price value at $683.21 before a sharp dip to a price of $658.16. However, the bulls charged, leading to a reclaim above $690, adding more momentum to its 5% weekly gain.
Zcash Price Touches $692.35 as Market Activity Intensifies
According to a CoinMarketCap report at the time of writing this article, Zcash price exchanges at $692.35 after a 1.5% increase during the last 24 hours. The market cap reached $11.29B as trading conditions show stronger activity across exchanges. Reported volume rises to $4.34B and reflects expanded participation throughout the period. FDV stands at $14.53B as broader valuation remains consistent with recent movements.
The Zcash price movement shows repeated upward stretches that push the price toward higher levels within the displayed range. Several reversals then move the price downward and create alternating momentum throughout the session. The fluctuations present wide variability as the price shifts between the upper and lower boundaries.
Each movement creates short phases of acceleration that broaden the overall volatility pattern. The central range holds steady as the price continues to move within a defined trend. The Zcash price records multiple swings that shape the broader trend without forming a single directional pattern.
ZEC Price Approaches $740 Breakout After Reclaiming Key Zones
A technical analysis prepared by Ardi reveals that the Zcash price now moves within a clear rising structure after reclaiming the former supply zone between $520 and $540. The price chart shows strong continuation as the market broke directly through the confirmation region around $611 and advanced into the local highs near $740. Zcash price now sits above the Bulls’ Confidence Point near $684, which aligns with the 38.2% retracement measured from the recent trendline break. This alignment creates a defined confluence area that currently supports the ongoing upward movement.
The rising curve beneath the structure continues to guide the Zcash price as each pullback respects the broader trajectory. The chart identifies the $740 zone as the main breakout resistance and marks it as the key level that shapes the next directional phase. Multiple interactions with this ceiling create a compressed area that often precedes movement expansion. If pressure returns, the price chart outlines a natural retest region near $660, with further pullback potential toward $630. As of now, the reclaimed supply zone around $530 remains the deeper structural reference.
The post Zcash Price Clears the $611 Confirmation Zone as the 38.2% Retracement Holds: Is a Decisive Push Next? appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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