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ZEC now sits above its major daily moving averages, while RSI has recovered above neutral. The next obstacle is around $550, where buyers repeatedly struggled to hold ground in July.
Key Takeaways
- The move above $512 shifts the near-term structure in buyers’ favor, although today’s candle remains open.
- RSI supports the recovery without showing an overbought market.
- The $550 area combines Fibonacci resistance with repeated July failures.
- Losing $500-$508 would weaken the breakout before $480 comes into focus.
Clearing the $512 Wall
In our previous analysis, Zcash was still struggling with resistance near $512 while shielded pools absorbed supply. Price is now staying above that barrier after yesterday closed just dollars above it.
An intraday high near $528 left several technical levels supporting the price rather than looming overhead.
The 0.5 Fibonacci retracement is around $508, almost alongside the 100-day SMA at $500. Lower down, the 50-da...
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