Zcash rose roughly 15% over the weekend, advancing toward the next major resistance. Analysts are debating whether the move signals a fresh leg higher or a near-term pullback before a breakout. Two momentum signals and recent shifts in whale positions suggest a pullback could precede a breakout.
ZEC is trading around $518, with the next catalyst near $527; a close above $527 on a 12-hour basis would confirm bullish momentum and open room toward $633. If buyers fail to defend $435, the downside could extend toward $370. Meanwhile, the money-flow index has declined as price rose, implying demand lag and a cautious stance until momentum confirms with a break above 65 on the MFI. RSI divergence also signals a potential near-term correction.
Near-term liquidity remains thin, requiring clear confirmation signals for sizable entries. On-chain data shows mixed demand: wholesale holders trimmed positions by 7.46% over the last 24 hours, while mega whales increased holdings by 4.59%, indicating a cautious longer-term stance. Zcash also shows notable holder activity on the Solana chain, underscoring the asset’s cross-chain interest. If resistance holds, the upside could target $633, followed by $737, depending on momentum.
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