Zcash (ZEC), a privacy-focused cryptocurrency, has recorded significant gains this week, signaling a potential bullish reversal. The token’s price increased over 8% weekly and is currently stabilizing near $356, reflecting renewed market confidence. Analysts are monitoring key liquidity zones and technical indicators, suggesting rising buying pressure could drive the price toward higher targets of $404, $449, and $481.
Zcash (ZEC) is moving in a neutral price setup and preparing for a strong reversal that could push the price beyond previous highs. According to CoinMarketCap, the ZEC price has shown signs of stability over the last 24 hours but remained up by 8.11% over the last week.
At the time of writing, ZEC is trading at $356.88 with a trading volume of approximately $420 million. Its market capitalization stands at a stable $5.93 billion.
Crypto analyst Crypto Patel highlighted that ZEC is showing renewed bullish strength on the daily timeframe, following a decisive breakout from recent lows. The analyst stated “Strong upward displacement highlights increasing buying pressure, suggesting that momentum is building as the asset stabilizes above key support zones now.”
Price continues to hold above the Change in State of Delivery (CISD), which is now acting as a reliable support area. Liquidity resting above the current price remains a key driver, increasing the likelihood of continuation toward higher resistance targets.
According to TradingView, ZEC shows a clear bullish reversal after being in a long downward trend. After reaching a low of $200 in March, the price rocketed upwards, breaking all key EMAs.
The Relative Strength Index (RSI) is at 68.73, nearing the overbought area but indicating good buying strength. The 20-day EMA at $308 is an important support level, providing critical support during any corrections.
