2 hours ago
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Price briefly reached $515 before returning to around $510 at the time of writing, leaving the breakout unresolved and shifting attention to the daily close.
Key Takeaways
- ZEC is testing the resistance that stopped its previous rebound, but weak volume and a faded intraday move leave the breakout unconfirmed.
- Funding has turned mildly positive without reaching an obvious extreme relative to recent readings.
- Growth in shielded balances may be reducing ZEC’s liquid supply, although those coins remain transferable and are not necessarily inactive.
- If resistance holds, the first support sits near $496, followed by the 50-day SMA at $477 and the 0.382 Fibonacci level at $470.
ZEC’s Six-Day Recovery Reaches Key Resistance
The $512 area also stopped ZEC’s rebound around July 26, after which price returned toward the lower part of its short-term range. Clearing it would therefore break both the Fibonacci retracement and the ceiling that blocked the previous recovery attempt.
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