Zcash has recorded a sharp upside move, gaining 13% over the past 24 hours and pushing closer to the $500 level.
The rally reflects improving holder confidence and supportive technical momentum. Unlike many altcoins, ZEC is maintaining relative strength despite broader market uncertainty.
Zcash Holders Seem To Be Changing Stance
Momentum indicators highlight Zcash’s improving sentiment. The Relative Strength Index (RSI) has climbed above the neutral 50.0 level and entered the positive zone. This shift places ZEC among a small group of altcoins currently showing bullish momentum.
An RSI above 50.0 suggests buyers are gaining control. This positioning may help Zcash resist short-term bearish pressure affecting the wider market. Strong momentum readings often support trend continuation when paired with stable demand from holders.
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Macro indicators reinforce the constructive outlook. The Chaikin Money Flow is trending higher, signaling a slowdown in capital outflows. Although the indicator remains below the zero line, the upward move suggests selling pressure is easing.
Retracing outflows is significant during recovery phases. If market conditions remain steady, declining outflows could transition into net inflows. Such a shift would confirm improving conviction and provide the liquidity needed to sustain ZEC’s upward trajectory.
Is ZEC Price Looking At Recovery?
Zcash price is standing near $438 at the time of writing, marking a 13% gain in one day. The price is now testing the $442 resistance zone. Clearing this level is critical for confirming the continuation of the current rally.
Bullish technical signals support further upside. If momentum indicators remain positive and capital flows stabilize, ZEC could advance toward $500. The move would require only a 13.8% increase from current levels, making the target technically achievable in favorable conditions.
Downside risks persist if resistance holds. Failure to breach $442 or renewed selling could pull ZEC back toward the $403 support. A breakdown below that level would weaken the bullish outlook and open the door to a deeper correction toward $370.
Read original story Will Zcash (ZEC) Price Rally Beyond $500? Here’s What the Charts Say by Aaryamann Shrivastava at beincrypto.com
