ZCash (ZEC) Gains 9% Amidst Heavy Selling Pressure

After a 50% decline from its peak, ZCash (ZEC) shows signs of recovery with a 9% increase in the last 24 hours. The current trading price is $364. However, market experts are uncertain whether this indicates a sustained recovery or merely a temporary rebound.

ZCash (ZEC) Price Movement and Market Activity

ZCash experienced a significant crash but has gained 9% recently.
Daily trading volumes decreased by 10% to $1.4 billion, indicating potential weakness in bullish momentum.
Increased whale activity suggests attempts to trigger a price rebound, with a positive delta of +1.06.
Selling pressure is notable at the $380 resistance level, with sell volume reaching 18.7 million compared to 6.1 million buy volume.
The imbalance suggests heavy distribution, risking current whale bids becoming "exit liquidity" if the price doesn't reclaim $380.
If bulls surpass $380, a short squeeze to $420 is possible; rejection might drive the price to the $250–$290 range.

Analyst Insights on ZEC Trading Opportunities

Analyst Altcoin Sherpa sees a swing-long opportunity as the price retraces to the 0.618 Fibonacci level, considered strong support.
A potential 20–40% upside is possible, although a return to all-time highs seems unlikely.
Traders should place stop-loss orders below the 0.618 level to mitigate downside risk.
During November's rally, institutional interest increased, with companies like Reliance Global and Cypherpunk Technologies planning ZEC treasury investments.