Zcash impresses with 520% monthly gains: Can the ZEC price rally continue?

Zcash has experienced a remarkable surge of over 520% in the past month, positioning its price within reach of the $300 mark—an achievement not seen since December 2021. The price must stabilize above $245 to aim for a target of approximately $336, indicating a potential further rally. Technical analysis shows a consolidation within a bull flag pattern, suggesting a continuation upward, though a pullback may occur around $237. A breakout above the trendline could trigger a bullish move, while falling below $244 risks triggering liquidations and a potential drop to the $210.75 mark. Despite the bullish trend, the asset has reached overbought levels, with a weekly relative strength index above 92, indicating the possibility of a short-term pullback. Analysts suggest that if ZEC can hold support around $245, it could challenge previous highs towards $375, encouraging investors to watch for opportunities around lower levels for potential buy signals.

Source 🔗