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Zcash Price Prediction: ZEC Approaches the Key $420 Resistance Level Again, Is a New Breakout Imminent?
Zcash (ZEC) is once again becoming the focus of the market, with its price retesting the upper boundary of a months-long symmetrical triangle—the key resistance at $420. As trading volume surges and institutional capital continues to flow in, ZEC may be approaching a decisive breakout.
Currently, ZEC is priced around $395, up about 11% in the past 24 hours, with a total weekly increase of 18%. Although it is still down about 27% over the past month, the strength of the short-term rebound has clearly increased. The seven-day price range has been between $306 and $420, indicating that the market has entered a phase of structural convergence.
The surge in trading volume supports the potential for a breakout. ZEC spot trading volume climbed to $1.28 billion in 24 hours, nearly doubling from the previous day. In derivatives, futures trading volume soared to $5.5 billion, with open interest rising to $895 million, an increase of 21%. This simultaneous inflow of capital into both spot and futures usually indicates that traders are actively taking on risk, rather than passively closing positions.
ZEC4.5%