ZCash (ZEC) challenged the $500 level of psychological resistance in round numbers once again. Over the past 24 hours, there has been interest in the privacy token 51.5% increase in daily trading volume and 17.16% increased open interest.
Its gains over 24 hours measured 7.04%. This upward trend began towards the end of June, when the $370 the area was tested as support.
AMBCrypto reported that the ZCash Ironwood pool had been “formally verified” to rule out undetectable counterfeiting bugs. This caused a sharp correction a little over a month ago, which only started to stop after a new auditable Ironwood pool was proposed.
Is ZCash making a comeback?
On the 1 day chartTHE $500 to $530 The zone has been a key horizontal zone of supply and demand since December 2025. Price action was bullish over this period. A daily session closes below $299.6 is necessary to reverse this bearish bias.
This low reached in April gave rise to a push towards new highs. So this is the point that swing traders and investors will keep an eye on.
The gathering of $20.71 to $750 marked the major bullish impulse movement on the weekly time frame. Through this move, Fibonacci retracement levels (yellow) were plotted.
The current bullish bias is supported by the longer-term structure and the fact that the 78.6% retracement level at $176.78 had been defended during the correction at the beginning of this year.
Technical indicators were also bullish. The CMF climbed quietly in July, and its +0.12 the reading signaled strong buying pressure. The Awesome Oscillator was above the zero line to also show upward momentum.
Trader Call to Action – Cautiously Bullish
The price had reached a low at $368 towards the end of June. However, its structure on the 4-hour time frame was bearish, although the weekly and daily structure was bullish.
Therefore, as things stand, swing traders and investors should be careful. THE 78.6% retracement level at $560 will be a powerful obstacle to bullish hopes.
ZCash presented a conundrum to traders, and the $644 was the local swing level that needed to be crossed to confirm the continued uptrend.
Up to $560 and $644 are recovered, bulls can be cautiously optimistic but also wary of another rejection from these key resistance areas.
Final Summary
- ZCash price action has been bearish over the past six weeks, but it has been pushing higher.
- The privacy token still exhibits a bullish bias on a higher timeframe despite the deep correction, but there are key overhead resistances to watch.
