Zcash (ZEC) is moving in a consolidation phase as the investors are moving away from digital assets due to rising conflict between Iran and Israel and a notable increase in oil prices. According to CoinMarketCap, the ZEC price has remained stable over the last 24 hours, but it has surged by 3.82% over the last week.
At the time of writing, ZEC is trading at $332.36 with a trading volume of $504.89 million, which has declined by 14.3% over the last 24 hours. However, its market capitalization stands at $5.52 billion, which is stable.
Source: CoinMarketCap
Also Read: Zcash (ZEC) Holds $337 After Market Pullback: Can it Rebound Toward $450?
ZEC Bullish Setup Targets $400 After Retest
Furthermore, the crypto analyst TurboBullCapital highlighted that ZEC is showing strong market structure, holding a bullish setup with steady accumulation and consistent dip demand.
The $320 level has emerged as a key area where buyers are expected to react. If this zone holds on a retest, it could confirm continued strength and sustain the broader upward trend.
Source: TuroBullCapital’s X Post
In that case, momentum might propel ZEC into the $380-$400 region as liquidity builds up while testing the resistance levels.
In addition to its technical performance, Zcash has a compelling privacy-based story, along with a vibrant community. However, a breach below the support level would weaken the set-up and move price action back to range-bound trading.
Technical Indicators Show Mixed Outlook
According to TradingView, the ZEC price has made a strong recovery since it fell to about $191.00. Currently trading at $335.50, it has managed to break through all the important EMAs, including the 200-day EMA.
The 20-day EMA is at $330.61, which represents the important level of support as the token moves from a negative market scenario to a positive one.
Source: TradingView
However, even with the improvements made, there seems to be a loss of energy, and the MACD indicates this by showing a fade.
This bearish cross and red histogram suggest that there might be a cold front ahead, and price action will come to a halt near the $355.00 level. In order for the uptrend to continue, bulls have to hold their ground at these price levels.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Zcash (ZEC) Gains Momentum After Robinhood Listing, Eyes $423 Breakout
