Zcash (ZEC) recorded a 12.48% rise over the past 24 hours, bringing its price to $52.24. This notable upswing raised its market capitalization to $865.42 million, marking an 11.04% gain. Simultaneously, the 24-hour trading volume climbed to $85.98 million—up by 12.39%—bringing the volume-to-Market Cap ratio close to 10%.
The circulating supply of Zcash remains stable at 16.65 million ZEC, approaching its maximum supply of 16.71 million. Its fully diluted valuation (FDV) is currently at $1.09 billion, with the total number of ZEC holders reaching 10.87K. Bolstered by increasing interest and revived investor participation, Zcash now ranks 79th among global cryptocurrencies.
Is Another ZEC Rally on the Horizon?
The daily chart for ZEC indicates strong upward momentum. Support is firmly established at the $45 level, while immediate resistance is observed near $55. Should buyers manage to surpass the $55 mark, the price may advance toward $60. Conversely, if the price falls below $45, the next significant support is expected around $40.
The RSI currently stands at 61.76, while the average RSI line is slightly higher at 65.78. This gap points to a slowdown in momentum but still leans toward a bullish outlook. As both indicators remain above the neutral 50 mark, buying pressure appears sustained. A move back to 70 on the RSI could signal overbought territory, potentially prompting some investors to take profits.
The Chaikin Money Flow (CMF) registers at 0.13, indicating consistent capital inflows into ZEC. Staying above the neutral zero line, this value reflects continued investor trust and active accumulation. As long as the CMF remains above the 0.1 level, ZEC is likely to maintain its bullish momentum.
Bullish candlestick patterns have been observed, with recent sessions closing in green. Daily volume bars indicate steady market participation. The short-term moving average is currently positioned beneath the price, potentially offering support. Since no bearish crossover has emerged, ZEC’s upward trend appears to be firmly intact.
Should buyers overcome the $55 resistance level, the next likely target could be near $60. On the other hand, a drop below the moving average may lead ZEC to retest the support zone between $45 and $40. Despite this possibility, market sentiment stays optimistic, with technical signals continuing to favor bullish momentum.
 recorded a 12.48% rise over the past 24 hours, bringing its price to $52.24. This notable upswing raised its market capitalization to $865.42 million, marking an 11.04% gain.){kind=link}