Zcash Price Breakout Extends With Volume Support — No Sign of Exhaustion Yet
Zcash (ZEC) continues to guide the market restoration, posting one of the strongest runs of this cycle. The Zcash worth has gained greater than 230% month-on-month. The token is up practically 1,200% within the final three months, breaking decisively out of its flag sample on October 24.
Despite temporary pauses, there’s nonetheless no signal of exhaustion — the uptrend seems to be alive, backed by quantity and robust inflows.
Retail Selling Slows as Large Wallet Inflows Dominate
The Chaikin Money Flow (CMF), which tracks whether or not cash from giant wallets is coming into or leaving an asset, confirms that the Zcash price rally is way from over. The indicator broke out of its downtrend line on November 3, marking renewed shopping for momentum from giant buyers and whales.
CMF at present stands at +0.21, indicating sturdy inflows above the zero line, a sample usually noticed in continuation phases of rallies.
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Supporting this, spot netflow information exhibits a large drop in alternate promoting. On November 4, practically $41.79 million value of ZEC was bought, in comparison with simply $3.66 million on November 6.
The steep decline (over 91%) in alternate inflows signifies that retail-driven promoting stress has subsided. This may need allowed bigger patrons to drive costs greater with out resistance.
The On-Balance Volume (OBV), which provides quantity on up days and subtracts it on down days to gauge accumulation, provides weight to this image. OBV has maintained an upward trendline since early October.
It has taken assist round October 30, and has by no means damaged under it since, even throughout minor Zcash dips.
The rising OBV, alongside rising costs, confirms that this rally is backed by real quantity fairly than hypothesis.
With CMF trending greater, spot inflows plunging by 91%, and OBV sustaining its uptrend, the information collectively sign that huge cash continues to drive this transfer, leaving little room for a significant pullback — not less than for now.
Flag Breakout Leaves Zcash Price Eyeing Higher Fibonacci Targets
From a technical construction perspective, Zcash’s flag breakout on October 24 marked the start of this latest rally leg. Since then, the token has prolonged positive aspects with none consolidation, now buying and selling close to $518, up 18% within the final 24 hours.
The subsequent key resistance lies at $594, aligned with the 1.618 Fibonacci extension stage. A breakout above this stage may open the best way towards $847, the two.618 goal – a possible 60% rise from present costs.
On the draw back, $384 acts because the strongest Zcash assist stage. It has persistently absorbed promoting stress since November 1. Only a sustained drop under that will invite a deeper pullback.
But given the present construction and volume-backed inflows, that situation stays unlikely for now.
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