Zcash (ZEC) has experienced a significant upward movement, rising more than 225% over the past month and reaching a local high of $133. In the last 24 hours alone, the price increased by over 10%, supported by a notable rise in trading volume. This marks ZEC’s highest price level in over three years and places it among the best-performing assets in the current market cycle.
The recent rally follows a period of gradually building momentum. Over the last several weeks, the coin has broken through multiple resistance levels with limited pullbacks, indicating sustained demand. Trading activity has intensified during this move, aligning with the price action and suggesting broad market interest.
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Technical Indicators
Several key indicators now show that ZEC is in overbought territory. The Relative Strength Index (RSI), which measures the speed and magnitude of recent price changes, currently shows RSI(14) at 92 and RSI(7) at 96. These values are well above the commonly watched threshold of 70, which is a signal that an asset may be overbought.
The Money Flow Index (MFI), which incorporates both price and volume data, also stands at 96. This reinforces the view that recent buying pressure has been strong and sustained. The overbought conditions are supported even further by a breakout above the upper Bollinger band.
From a support perspective, the 23.6% Fibonacci retracement level, drawn from the recent rally base, currently aligns with the $130 zone. This level is being watched as a potential short-term support in the event of a pullback. Whether this area holds or fails could provide further clarity on short-term trend continuation.
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Conclusion
Technical analysis of ZEC currently highlights massive bullish momentum, but paired with strong overbought conditions across several indicators. RSI(14), RSI(7), MFI and Bollinger Bands all suggest that current price levels are too high relative to recent averages. The $130 level, aligned with the 23.6% Fibonacci retracement, may serve as an initial support if prices begin to consolidate or retrace.
As always, while technical indicators can help identify potential risk zones and trend strength, they do not account for unexpected events, broader market shifts, or external catalysts. The current signals should be considered as part of a wider risk-management approach rather than used in isolation.
