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Zcash Rally Cools: Is More Growth Coming?
14 Dec
Summary
- Zcash price rose over 700% in three months.
- Volume analysis suggests buyers are still in control.
- Exchange outflows indicate accumulation by spot buyers.
Zcash (ZEC) has recently seen a substantial surge, gaining over 700% in the past three months, before entering a period of consolidation. Current price action within a tightening triangle pattern reflects indecision, but the asset continues to respect its upward trend line, suggesting the broader setup remains positive.
Analysis of trading volume, particularly using Wyckoff-style indicators, shows that while buyer volume has cooled, it still dominates. This pattern is reminiscent of a previous instance in October, after which Zcash saw a significant rally. Spot flow data further supports a bullish outlook, with recent net outflows from exchanges indicating accumulation rather than distribution.
Despite a slight pullback in the last 24 hours, Zcash remains strong, up 20% weekly and over 700% quarterly. The fundamental trend appears unbroken, currently in a consolidation phase. A key resistance level to watch is $511; a decisive daily close above this mark would confirm a bullish breakout and renewed buyer strength.
