ZCash was listed on the popular crypto exchange Bitget on December 3.
Since that day, ZCash (ZEC) has increased by 30.8%, from $312.8 to $409.2.
A recent report suggested that $360 was an important support zone. So far it has been defended.
The next target of $480 was achievable, now that the psychological level of $400 has been breached. Although critics have called the ZEC rally “coordinated,” traders may not care as much as investors. Where volatility reigns, there is money to be made.
Bringing Opposing ZCash Indices Together
Source: ZEC/USDT on TradingView
From a price action perspective, the swing structure and, more recently, the internal structure, on the daily time frame, were bullish. The imbalance (white box) between $395 and $425 has been filled. Additional gains were therefore likely.
The indicators nevertheless reflect weak demand. The CMF settled at -0.25, showing clear selling pressure. The money flow index remained below 50, signaling moderate capital inflows.
This left traders focused on volume trends. If demand does not strengthen, the price could consolidate near current levels.
Source: ZEC/USDT on TradingView
Indicators on a one-hour time frame showed good capital inflows and good momentum, although momentum has slowed in recent hours. They conflicted with the daily schedule, but that wasn’t a problem.
Additionally, the area between $382 and $395 has formed a short-term demand pocket. A break below could trigger a move towards $330 – $350.
On the other hand, a rally above $425 could pave the way to $480.
ZCash Bearish Scenario Review
A bearish result would start with a break below $380, followed by a retest of this area as a bid.
This change resulted in the invalidation of bullish traders as ZEC maintained bullish structures on the daily, 4-hour, and 1-hour charts.
Trader Call to Action – When to Go Long
It’s a good time to go for a long time.
The bearish scenario would act as a bullish invalidation. This means that bullish traders can place their stop-loss at or just below $382 and then target $480.
Other targets include $550 and $610.
Final Thoughts
- ZCash’s trend has strengthened, but its demand profile has remained uneven across periods.
- A break of support could reset expectations, while sustained momentum could help ZEC return to higher ranges.
Disclaimer: The information presented does not constitute financial, investment, business or other advice and represents the opinion of the author only.
