- ZEC trades below a major resistance line near 700 USD and the chart shows a wide gap that links to past reactions.
- The fair value gap sits above a large demand zone and both zones create the core structure used for the new outlook.
- ZEC gained over 2700 percent this year and the move attracted interest as Grayscale filed to convert its trust into an ETF.
Zcash has gained more than 2700 percent this year and now trades below a major resistance level near 700 USD which creates a clear area of risk for a return toward the 200 to 100 zone shown on the technical chart. The view comes as Grayscale filed to convert its Zcash Trust into an ETF and this action signals new interest from institutions that follow privacy assets.
ZEC Confronts the 700 USD Resistance Level
The chart shows a long multiyear structure that stretches from 2017 through 2027. The red resistance line sits near 700 USD and marks a level tested in earlier cycles. ZEC returned to this zone after a rapid vertical rise from the lower range that formed across 2024 and early 2025.
The price candle at the top of the move shows a rejection wick near the 700 area. This shape adds context to the idea that price may not hold above this mark. The chart labels this area as resistance, which supports the outlook shared in the post.
The move into resistance followed a strong impulse leg from the high demand zone. That zone sits near 150 to 74 USD and forms the base of the recent breakout. This band held steady during long periods of sideways trade and later provided the launch point for the current rally.
Fair Value Gap and High Demand Zone Define Key Levels
A fair value gap sits just under resistance near the 430 to 300 USD zone. This gap appears as the wide green band above the high demand zone. The gap marks an area where price moved too quickly to fill orders during the rally.
If ZEC fails to keep the price above 700 USD, then the fair value gap becomes an important mid-range area. Price often returns to these zones after strong moves. The chart positions this region as the next possible destination if traders see weakness across the higher level.
Below the fair value gap sits the high demand zone. This band covers the region from about 191 USD down to 74 USD. The chart shows this zone as the origin of the large impulse move. Price stayed inside this band for years before the breakout took place.
The analyst statement says that if the price stays below 700 USD, then the chance of a drop to 200 to 100 USD becomes high. Those numbers line up with the high demand zone range.
ETF Filing Adds Institutional Interest to the Outlook
Grayscale submitted a filing to convert its Zcash Trust into an ETF. This step signals new interest in privacy assets from larger market participants. The post notes that this move suggests institutions are leaning more into this area of the market.
The price reaction after the filing shows strong momentum, which ties into the 2700 per cent gain seen this year. The chart reflects this rise through the long upward candle. The question now is whether the current structure can hold while the price sits under the 700 USD line.
Will ZEC remain below the resistance level long enough to reach the 200 to 100 zone shown on the chart?
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