Zcash Price Prediction: ZEC Approaches the Key $420 Resistance Level Again, Is a New Breakout Imminent?

Zcash (ZEC) is once again becoming a market focal point, with its price retesting the upper boundary of a months-long symmetrical triangle—the key resistance at $420. As trading volume surges and institutional inflows continue, ZEC may be approaching a decisive breakout.

Currently, ZEC is quoted at around $395, up about 11% in 24 hours, with a total gain of 18% for the week. Although it is still down about 27% over the past month, the strength of the short-term rebound has noticeably increased. The seven-day price range has been between $306 and $420, indicating that the market has entered a phase of structural consolidation.

The surge in trading volume is providing support for a breakout. ZEC spot trading volume soared to $1.28 billion in 24 hours, nearly doubling from the previous day. In derivatives, futures trading volume jumped to $5.5 billion, and open interest rose to $895 million, an increase of 21%. This simultaneous inflow of funds into both spot and futures markets typically indicates that traders are proactively taking on risk, rather than passively closing positions.

The privacy coin narrative has gained significant traction recently, further boosting ZEC’s popularity. The shielded pool usage rate has reached 30% of total supply, and the post-halving supply squeeze continues to be felt. A certain CEX listing ZEC spot trading on December 3 triggered a strong rally, while French bank BPCE’s integration of ZEC into its user app has given privacy coins unprecedented institutional exposure. Nonetheless, regional attitudes are mixed; for example, a Korean domestic CEX delisted ZEC due to MiCA 2.0 regulatory requirements.

Institutional support is also robust. Cypherpunk Technologies has set up a $100 million ZEC treasury, holding over 200,000 ZEC and planning to increase its holdings to 5% of total supply. In addition, Grayscale’s application to convert its ZEC trust into an ETF has further boosted market sentiment.

On the technical side, ZEC is trading within a complete symmetrical triangle structure, formed by tightening highs and rising lows. The price is currently approaching the $420 resistance, having briefly broken above it earlier this week before pulling back. Trading volume has decreased during the consolidation phase, which is a common signal before a breakout. The RSI has rebounded from oversold territory to around 40, showing initial signs of stabilization, though a full trend reversal has yet to be confirmed.

(Source: TradingView)

If ZEC closes above the trendline on the daily chart, the price could further challenge the $460–$500 range; if it breaks below the ascending support structure, there is a risk of a pullback to $350 or even $300. In the short term, ZEC’s movement has entered the final stage of consolidation, and the direction for December will still depend on the imminent key breakout.