Zcash (ZEC) Price Shows Signs of Recovery as Whale Holdings Increase by 6.7%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4d ago
0mins
Source: Yahoo Finance
- Investor Confidence Rebounds: After weeks of sideways movement, Zcash's price shows renewed strength, with accumulation behavior increasing across several metrics, indicating growing market confidence that may help ZEC break out of consolidation and establish a clearer trend.
- Bullish Technical Indicators: The Chaikin Money Flow indicator is forming a bullish divergence, as ZEC continues to post lower lows while the CMF produces a higher low, suggesting that capital inflows are not yet fully reflected in price action, which historically precedes upward price movements.
- Whale Holdings Increase: Addresses holding over $1 million in ZEC have steadily accumulated over the past week, with whale holdings rising by approximately 6.7%, and while the pace of accumulation is measured, sustained buying by large investors often provides a stable foundation for price appreciation, especially in supportive market conditions.
- Breakout Price Outlook: Zcash trades near $396, and a decisive move above the $450 resistance would confirm a bullish breakout, potentially lifting the price toward $504 and $540, recovering much of its recent decline, although a shift in whale sentiment could lead to a drop toward $340.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
