$ZEC Surges 50% to Reach $450, Traders Eye $500 Resistance Level

Recent Price Movement: $ZEC has surged nearly 50% from the $300-$350 range to around $450, with traders now focusing on the critical $500 resistance level for potential future direction.

Historical Context: The token experienced a significant decline of over 55% from its all-time high near $753, finding support around the $300 mark, which has led to a strong recovery and the formation of a new trading zone between $428 and $450.

Resistance and Support Analysis: The $500 level is pivotal; a successful break above it could lead to further gains, while failure to maintain above this level may result in a deeper pullback, potentially below $300.

Fibonacci Levels and Market Sentiment: Key Fibonacci retracement levels indicate potential corrective areas if upward momentum falters, with traders closely monitoring price action as $ZEC approaches the $500 resistance to gauge market strength.