ZCash (ZEC) challenged the $500 psychological resistance level, gaining 7.04% in 24 hours. Daily trading volume surged 51.5% and open interest rose 17.16%. The move began after the $370 support area was tested in late June. The privacy token’s Ironwood pool was formally verified, ruling out undetectable counterfeiting bugs. A sharp correction over a month ago only stopped after a proposal for a new auditable Ironwood pool. On the 1-day chart, the $500–$530 zone has been a key supply/demand area since December 2025. Technical indicators like the CMF at +0.12 and the Awesome Oscillator above zero signaled bullish pressure. However, the 4-hour structure remained bearish, with key resistance at $560 and $644.
ZCash (ZEC) challenged the $500 psychological round-number resistance level once again. In the past 24 hours, the privacy token saw a 51.5% increase in daily trading volume and a 17.16% increase in open interest. Its 24-hour gains measured 7.04%. This move higher began towards the end of June, when the $370 area was tested as support.
A report stated that the ZCash Ironwood pool had been formally verified to rule out undetectable counterfeiting bugs. This caused a sharp correction just over a month ago that only began to stop after the proposal for a new auditable Ironwood pool.
On the 1-day chart, the $500–$530 area has been a key horizontal supply/demand zone since December 2025. The price action was bullishly poised on this timeframe. A daily session close below $299.6 is needed to flip this bias bearishly. This swing low, made in April, has yielded a push towards new highs.
The rally from $20.71 to $750 marked the major bullish impulse move on the weekly timeframe. Using this move, Fibonacci retracement levels 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 earlier this year. The technical indicators were also bullish. The CMF was quietly climbing higher in July, and its +0.12 reading signaled strong buying pressure. The Awesome Oscillator was above the zero line to show upward momentum.
The price had formed a higher low at $368 towards the end of June. However, its structure on the 4-hour timeframe was bearish, though the weekly and daily were bullish. Therefore, swing traders and investors need to be cautious. 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 broken to confirm the continued uptrend. Until $560 and $644 are reclaimed, bulls can be cautiously optimistic but also wary of another rejection from these key resistance zones.
