Zcash ($ZEC) is showing significant signs of life today, posting a 7.07% gain to reach approximately $247.72. This $16.35 climb over the last 24 hours reflects a surge in bullish momentum as the broader crypto market attempts a recovery, with the coin bouncing off a daily low of $221.53 to hit a high of $248.82. While the short-term price action is encouraging—especially as it pushed past its previous close of $231.37—the technical landscape suggests a bit of a tug-of-war. ZEC is currently trading below its 200-day moving average ($274) and the 50-day moving average ($390), indicating that while the immediate bounce is strong, the asset still has some work to do before confirming a long-term trend reversal.
From a data perspective, Zcash currently maintains a $4.08 billion market cap with a 24-hour trading volume of $371 million. Interestingly, this volume is slightly lower than the recent average of $466 million, suggesting that while the price is rising, we may need a bit more "buying fuel" to break through heavy overhead resistance. Technical indicators offer a mixed bag: an RSI near 32 suggests the coin has been oversold and was due for this relief rally, but high volatility (ATR ~0.37) means the path upward could be a bit rocky. Investors should keep a close eye on the $238 support level; if ZEC can’t decisively break the $248–$250 resistance zone, it may consolidate until a new catalyst, such as increased demand for privacy-centric protocols, enters the mix
