- When prices break through a descending triangle pattern the market shows robust escalation together with rising trading volume figures.
- ZEC faces critical resistance between $39-$40 and either a positive breakout targeting $45-$50 or potential revalidation of $34.88 support will follow a failed breakout attempt.
- The $35 price area functions as an essential support point which emerges in the forthcoming price correction phase.
Zcash (ZEC) has demonstrated a significant upward movement in recent trading sessions, signaling a strong potential for further gains. ZEC’s current market price is trading at $38.74 demonstrating a 10.7% increase during the last 24-hours. The market shows a bullish sentiment as ZEC maintains its price movement between $34.88 support and $38.73 resistance across a daily fluctuation period.
An analysis of the six-hour chart suggests that ZEC has been forming a descending triangle pattern, which recently saw a breakout. This breakout holds important value because past movements produced price surges that exceeded 100% based on chart data. The recent price breakout shows strengthened investor interest because it happens alongside increasing market trade volumes.
Key Technical Resistance and Support Levels
The price action of ZEC indicates that it is currently approaching a critical resistance level. If bullish momentum continues, breaking through $39-$40 could pave the way for a potential rally toward $45-$50.
On the downside, key support is found around $34.88, which acted as the lowest price in the last 24 hours. If sellers regain control, ZEC may revisit support levels at $32.78 or lower.
Zcash Breaks Resistance—Will Bulls Maintain Momentum?
The 200-period moving average functions as recent dynamic resistance on the chart. The current breakout above this moving average signals a potential shift in market sentiment. Analysts suggest short-term price corrections may occur before additional price gains because the RSI shows an overbought condition.
Users must be careful because price corrections may appear although ZEC might fail to sustain its position above the breakout area. Markets may intensify their selling position after ZEC falls beneath $35 thus creating downward pressure on price values. Multiple bullish indicators demonstrate a capacity for Zcash to break through its resistance zone thus validating a growth trend.
