Zcash price has moved steadily higher in recent sessions as it attempts to break out of a well-defined bullish pattern. The privacy-focused cryptocurrency is approaching a critical inflection point that could unlock further upside.
Investor confidence and supportive broader market conditions are reinforcing expectations of a near-term breakout.
Zcash Holders Show Strength
Large Zcash holders are showing growing optimism as the price approaches key resistance. Data indicates that the top 100 ZEC holders increased their combined balances by 1.11% over the last 24 hours. While modest, this accumulation signals confidence in continued recovery rather than short-term profit-taking.
This behavior suggests conviction among Zcash holders. Whales typically accumulate during consolidation phases when they anticipate expansion. Their continued support implies expectations of higher prices and reduced downside risk, reinforcing bullish sentiment.
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Technical indicators support the constructive outlook. The MACD has maintained strong bullish signals for the past two weeks, reflecting sustained positive momentum. This consistency indicates trend strength rather than a short-lived bounce, reducing the likelihood of abrupt reversals under current conditions.
Broader macro cues further support ZEC price stability. Bitcoin remains near the $88,000 level, providing a firm anchor for altcoins. Meanwhile, the Nasdaq and S&P 500 continue to show mildly bullish signals. This alignment encourages risk appetite across digital assets, benefiting Zcash.
ZEC Price Is Stagnant
ZEC price traded near $444 at the time of writing, moving within an ascending triangle pattern. This formation typically precedes upward continuation. A confirmed breakout could trigger a move of nearly 49%, aligning with the pattern’s projected target.
Flipping $442 into a sustained support level remains critical. A decisive move above $500 would confirm the breakout and validate bullish positioning. Given supportive technicals and investor behavior, Zcash could realistically cross $500 before the start of the next year.
However, risks remain if momentum weakens. Failure to break resistance may keep ZEC trading sideways between $442 and $403. A breakdown below $403 would shift sentiment sharply. In that case, price could decline toward $340, invalidating the bullish thesis and increasing downside exposure.
The post How Are Zcash Holders Positioning as Price Approaches a Major Resistance? appeared first on BeInCrypto.
