Zcash (ZEC) price emerges as one of the top-performing cryptos over the past 24 hours, surging nearly 25%, reaching $567. The latest surge appears to be fueled primarily by improving technical structure and strengthening derivatives activity. The breakout has pushed the privacy token above key resistance levels while attracting fresh market participation.
With bullish momentum building, now it’s interesting to watch whether ZEC can sustain its rally and reach the $600-$700 range or face a short-term pullback.
ZEC Price Aims at a Higher Breakout Following a 25% Jump
Zcash has been displaying massive strength since the start of the month, maintaining consecutive higher highs and lows. The latest upswing pushed the price close to $600, but before a breakout, selling pressure intensified. This dragged the price below $550. Despite the correction, the price continues to trade within a bullish range, keeping hopes alive for a continued ascending trend toward $700.
The current trade setup resembles a Cup & Handle pattern, where the price is heading towards the neckline. The price is consolidating below the bullish order block between $592 and $646, where buyers previously entered and sparked the next rally. Meanwhile, the Accumulation/Distribution (A/D) indicator continues to trend higher, suggesting sustained buying pressure and reinforcing the bullish price action. Despite the mounting selling pressure, the ZEC price remains within a bullish range.
Zcash On-Chain & Derivatives Analysis
Zcash’s rally is also supported by improving derivatives data, suggesting the move is backed by fresh market participation rather than a temporary short squeeze. Open Interest has climbed alongside the price, indicating that traders are opening new positions as bullish sentiment strengthens.
The liquidation data paint a similar picture. The Exchange Liquidation Map highlights significant short liquidation clusters between $590 and $600, with additional liquidity pockets extending toward the $620-$635 range. If buyers maintain control, these areas could act as liquidity magnets, potentially fueling the next leg higher.
Meanwhile, the 24-hour Liquidation Heatmap shows concentrated liquidity around $595, making it an important near-term level to watch. On the downside, another notable liquidity cluster near $560 could provide support if ZEC experiences a short-term pullback.
Overall, the derivatives data align with the bullish technical structure, although traders should watch for increased volatility as price approaches major liquidation zones, where profit-taking and liquidation events could influence the next move.
Key Price Levels to Watch
- Immediate Resistance: $590-$600 – A breakout above this zone could trigger further upside momentum toward the next liquidity cluster.
- Major Resistance: $680-$700 – A key supply zone that must be cleared for ZEC to target fresh multi-month highs.
- Immediate Support: $560 – The recent breakout level; holding above it would keep the short-term bullish structure intact.
- Bullish Order Block: $500-$525 – A strong demand zone where buyers previously stepped in, making it a critical area to watch on any pullback.
- Key Psychological Level: $700 – A sustained move above the major resistance could pave the way for a test of this milestone price.
Will Zcash (ZEC) Price Reach $700 After a 25% Rally?
Zcash’s impressive 25% rally has been driven by a strong technical breakout, supported by rising trading volume and growing participation in the derivatives market. While the absence of a major fundamental catalyst suggests the move is primarily momentum-driven, the overall market structure remains bullish.
For ZEC price to reach the $700 mark, buyers must first overcome the $590-$600 resistance and then clear the major supply zone around $680-$700. As long as the token holds above the $560 breakout level, the bullish outlook remains intact. However, losing this support could trigger a healthy pullback before the next attempt to extend the rally.
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