Zcash jumps 16% yet liquidity warns caution – Can ZEC break $385?
raders push ZEC upward, but on-chain flows tell a different story.
Zcash’s bullish sentiment improved as the broader market rebounded and buyers extended the recent breakout attempt. Strong intraday momentum and a rise in long-side positioning added pressure to the upside, giving traders a clearer directional bias.
According to CoinMarketCap, Zcash [ZEC] traded at $397 after a 16.01% daily jump. Trading volume rose 45% to $965 million, showing stronger participation during the move.
ZEC price retests a major hurdle
AMBCrypto’s analysis of the daily chart showed that today’s rally attempted to clear the $383 resistance and break a downtrend that began on the 20th of November.
ZEC tested this level across six sessions but failed to close above it. Those repeated rejections kept the broader structure weak.
A daily close above $385 could open the path toward $480, which aligns with the next resistance block. Failure to clear $385 would weaken the breakout setup again.
Technical indicators showed mixed conditions.
The Average Directional Index printed 22.91, which signaled weak trend strength despite the sharp price jump. The 200-day Exponential Moving Average stayed below the current price, keeping the broader trend supportive.
Derivatives data signals mixed sentiment
CoinGlass data showed strong long-side positioning from intraday traders.
ZEC’s large liquidation zones sat at $366.4 on the downside and $407.4 on the upside. Those levels formed the intraday support and resistance range for derivatives traders.
Funding Rates rose to 0.0064%, reinforcing bullish positioning across major venues.
ZEC’s exchange flows pointed to possible selling pressure.
CoinGlass’s Spot Inflow/Outflow dataset recorded $12.18 million in inflows over the past 24 hours. That shift suggested that some holders were prepared for profit-taking as the price approached resistance again.
Final Thoughts
- ZEC’s latest rebound offered a clearer structure, but the surrounding liquidity pockets kept sentiment measured.
- A hold above the immediate resistance could tilt momentum, yet inflow behavior may still shape short-term conviction.
