- Zcash Accumulation: Buyers withdrew $17 million from exchanges, signaling strong accumulation during the pullback.
- Price Structure: Trading inside a triangle pattern, ZEC maintains an uptrend despite short-term consolidation.
- Upside Potential: Key breakout above $511 could trigger further gains, with resistance targets up to $1,190.
Zcash — ZEC, has incredibly rallied over the past three months, surging more than 700 percent. After such strong gains, the cryptocurrency has paused, leaving traders to wonder if the trend is ending or just taking a breather. Recent data suggests buyers remain active, quietly accumulating coins even as upward momentum slows. Exchange outflows and price patterns hint that the broader trend could still favor the bulls.
Buyers Step In During Consolidation
Zcash is currently trading inside a tightening triangle pattern. This shape reflects short-term indecision between buyers and sellers, but the price continues to respect the rising trend line that guided the uptrend. Volume analysis using Wyckoff-style color coding shows that blue bars still dominate. Blue bars signal buyer-led activity, while yellow and red bars indicate seller control.
Even though buying volume has cooled slightly, blue bars remain prevalent, similar to patterns seen in October. After the October pause, Zcash rallied more than 300 percent, suggesting the current slowdown may only be temporary.Spot flow data provides further insight into market behavior. On December 12, roughly $14.26 million in ZEC moved onto exchanges, indicating temporary inflows. By the following day, the pattern shifted sharply.
Buyers withdrew approximately $17.34 million from exchanges, moving coins into private wallets. These outflows reduce immediate selling pressure and suggest accumulation during the pullback. Despite a mild 2.5 percent dip over 24 hours, Zcash remains up about 20 percent for the week. The three-month performance still stands above 700 percent, confirming the uptrend remains intact.
Key Levels and Future Targets
For bulls to regain full control, Zcash needs to break out above the triangle pattern. The key level to watch sits at $511, representing a potential 24 percent move from current prices. A clean daily close above this mark would signal renewed strength. The first upside target would be near $549, followed by resistance around $733, which capped prior rallies. Higher resistance levels exist at $850 and $1,190.
On the downside, support is clearly defined. Losing $430 could weaken the triangle, while a deeper breakdown might expose levels near $391 and $301. Zcash has also outperformed many top 100 cryptocurrencies recently, gaining nearly 28 percent over seven days. Privacy-focused competitors like Dash, Decred, and Verge are trading lower in comparison. Institutional interest contributed to the rally, with Cypherpunk Technologies and Grayscale driving accumulation.
Overall, the recent pullback does not appear to signal a trend reversal. Buyers are actively accumulating, and price structures remain constructive. Watching key breakout levels and exchange flow data will be essential for gauging the next move. Strong fundamentals, institutional interest, and supportive technical patterns keep Zcash in a bullish position for potential upside in the coming weeks.
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