- ZEC bounced from $525 and broke $600, showing strong buying and a possible move toward $750.
- Analyst Crypto Patel sees $600 as a good entry, with $525 as stop, aiming for $750.
- Analyst Ardi spots a Bullish Shark pattern near $480, pointing to short-term support and rebound chances.
Zcash (ZEC) has surged past $660 on Binance, prompting renewed attention from analysts. Recent charts show ZEC recovering sharply from its daily candle range low of $525.17, signaling renewed buying activity.
Crypto Patel on X highlighted a “Premium Long Setup,” noting that liquidity swept below the daily range low and smart money accumulation confirmed bullish order flow. He suggested an entry at $600.7, with a stop loss at $525.44 and a target of $750.
The recovery follows a series of higher lows formed since November 8. Analysts note that the lower support zone, labeled “EXTERNAL,” acted as a short-term bottom. Consequently, ZEC regained upward momentum and broke minor resistance near $600, which now serves as new support. Patel explained, “Wait for price to tap OB, confirm with LTF structure, and ride the move up,” emphasizing a cautious, structured approach to the bullish setup.
The chart shows ZEC may dip slightly back to $600.71 before climbing again toward $750. Strong green candles on November 6 and 7 show steady buying.
Additionally, price movement indicates steady accumulation by market participants during the recovery phase. Moreover, the OB at $600.71 provides a mid-range reference for potential entries, offering a tactical opportunity for traders seeking confirmation.
Alternative Patterns and Support Zones
Analyst Ardi on X observed a different scenario, citing ZEC’s drop to the first liquidity zone near $480 following a double top loss. He highlighted a potential Bullish Shark harmonic pattern on the 1-hour chart, with a 38.2% Fibonacci retracement target lining up with the neckline.
Ardi’s backtesting bot shows a 62% historical success rate on similar setups. However, he warned that if the first liquidity zone fails, ZEC could test secondary support, emphasizing risk management for traders.
