ZCash (ZEC) Rises 10% Amid $13.25M Whale Purchase

ZCash (ZEC) Price Movement

ZCash (ZEC) defies market consolidation trends with a 10% rise, now trading at $446.
Market cap surpasses $7.3 billion; trading volumes significantly increase, indicating renewed buying interest.
ZEC maintains an ascending trendline, hinting buyers control the market.
Key demand zone identified near $400 where price may retrace before further gains.
A successful hold above this zone could target the $476 resistance level.
Failure to maintain support near $380 could lead to corrections.

Technical Analysis and Market Insights

Liquidation heatmap shows strong support between $388-$400 with potential for short squeezes and sharp recoveries.
Resistance noted between $450-$460, with prior movements leading to short liquidations.
ZCash leads daily capital inflows, attracting approximately $66.96 million.

Significant Transactions

A new wallet withdrew 30,000 ZEC (~$13.25 million) from Binance, as per Lookonchain data.

Trading Sentiment

Today's rally sees a 50% surge in daily trading volumes, reaching $709 million, indicating bullish sentiment.

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