Zcash is trading near $606.70, demonstrating significant upward momentum after breaking the $540 resistance level. Its 24-hour trading volume is approximately $4.17 billion with a market capitalization of $10.11 billion. Analysts note the price is testing a Fibonacci resistance near $640, with further targets at $650 and $800, while key support lies between $451 and $542 to sustain the ongoing trend.
The Zcash price has gained renewed bullish attention after breaking a key resistance zone, signaling continued upward momentum. The breakout above major technical barriers suggests strengthening buyer control despite short-term volatility.
Currently, ZEC is trading near $606.70, while its 24-hour trading volume has climbed to approximately $4.17 billion. The market capitalization stands at roughly $10.11 billion with a market dominance of 0.38%.
Despite recording a minor 1.38% drop in the past day, there is a strong chance for upward movement in the long term. Market analysts noted that the price recently pushed above the important $540 resistance area.
A recent post by More Crypto Online states the price is testing resistance at the 88.7% Fibonacci retracement level near $640. “In such a case, a strong breakout above this level would be needed to confirm bullish momentum and possibly make a move towards another important resistance at $800.”
The post further notes that momentum could strengthen if buyers successfully push through this barrier. On the downside, key micro support is forming between $451 and $542, which is considered critical for maintaining the broader upward structure.
According to technical analysts, the breakout occurs as part of an impulse wave trend that began in February. Zcash price could continue advancing towards the $650 resistance target as the next major milestone.
If Zcash maintains momentum above recently reclaimed resistance levels, market participants may continue watching for another attempt toward higher price zones. The market structure indicates a continuation of the current trend.
