The price of Zcash (ZEC) surged by 23% to over $300 on February 15, accompanied by a massive 24-hour trading volume exceeding $2.24 billion. Crypto analyst Ardi noted the asset has rallied over 80% recently, approaching a critical resistance zone near its prior cycle high of $450. Market data shows a significant increase in Open Interest, reaching $447.57 million, as traders watch for a breakout that could signal a new bullish trend.
The price of Zcash surged significantly on February 15, climbing above $300 as renewed buying momentum pushed the privacy-focused cryptocurrency into a major resistance zone. According to CoinMarketCap, ZEC is trading at $309.78 with a massive volume of over $2.24 billion in the last 24 hours.
According to a post by crypto analyst Ardi, the ZEC price has surged over 80% in recent trading sessions. “Price action is unfolding as expected, with ZEC approaching a critical level that could determine its next broader trend direction,” the analyst noted.
If bulls manage to turn this resistance into support, it would signal a shift to a green local trend as ZEC traded near $450 in its prior cycle. Failure to close above this zone would confirm the downtrend, indicating the recent rally is likely to be sold.
The ZEC derivatives market is showing signs of rising momentum, with trading volume increasing by 58.46%. Open Interest has increased by 7.39%, reaching $447.57 million, while the OI Weighted funding rate indicates a minor bearish bias.
