Zcash (ZEC) shows technical strength as it enters what an analyst calls a Wave 4 Fibonacci zone, trading at $357.39 with a 10.57% 24-hour gain. According to analysis, the price targets $423–$440 as key resistance, while the Relative Strength Index at 62.82 indicates steady buying pressure without overbought conditions.
Zcash (ZEC) continues on an uptrend, holding critical support levels amidst strong buy-side interest. At the time of writing, Zcash is trading at $357.39 with a 24-hour trading volume of $2.13 billion and a market capitalization of $5.80 billion.
Crypto analyst More Crypto Online pointed out that ZEC entered a critical technical area corresponding to the 38.2% Fibonacci retracement line. “He emphasized that the main picture had not changed until now,” from the analysis.
The upside targets remain pegged at $423 and $440 as potential resistance areas. The analysis states that sustaining price above the $300 area makes a shift to wave 5 highly possible.
Technically, Zcash shows moderate strength with an RSI of 62.82, just above its signal level of 62.26. The price trades above the 20 SMA at $330.78 but faces resistance near the 200 SMA around $350.76.
Momentum indicators present mixed signals as the MACD histogram indicates some bearishness. Overall, ZEC remains in a transitional period where prices are stable but a directional breakout is anticipated.
