Zcash trades near $447 after breaking recent structure. The privacy coin gained 27% over seven days. According to trader Kamran Asghar on X, ZEC is heading toward major resistance at $460–$480.
Price broke above consolidation highs. The move opened space for further gains. "ZEC is breaking out of structure, heading toward major resistance at $460–$480," Asghar posted on X. He added the next target sits at $520 if this zone flips to support.
Battle Lines Drawn at Key Resistance
Not all traders share the bullish view. Crypto Diggy presented a bearish case on X. His chart shows a potential rejection at the 50-week moving average. The trade plan includes entry near $447 with a stop at $464.
He pointed to bearish divergence on lower timeframes. These signals occur when price makes higher highs but momentum indicators don't follow. "50wMA bearish retest, ltf bear divs… short $ZEC send it lower," he shared.
The divergence suggests weakening strength behind the move. RSI shows price momentum may be losing steam. This creates a decision point for ZEC at current levels.
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Futures Market Shows Heavy Betting
Futures open interest hit $983 million according to Coinglass data. This marks a significant jump from levels below $100 million earlier this year. The rise started in October alongside the price rally.
High open interest adds pressure to both sides. If price falls, liquidations could accelerate downward moves. Continued buying could push through resistance instead. The elevated positioning means volatile reactions are likely.
Trading volume spiked following recent exchange listings. Short liquidations reached $3.64 million versus $678K for longs. This shows bears getting squeezed as bulls dominate. The funding rate flipped positive, indicating more traders bet on upside.
Structure Holds But Test Ahead
ZEC formed higher lows on the short-term chart. A rising trendline sits below current price. This structure offers support for further upside attempts.
The path toward $520 requires staying above breakout levels. ZEC must absorb selling between $460 and $480. If resistance holds, the move may fade quickly.
The $460-$480 zone previously acted as strong resistance. Price behavior at this level will determine next steps. Bulls need volume to push through. Bears will defend to force reversal.
