Zcash Price Soars to $1,330: Will Buyers Hold the Line at $1,355.37?

The Zcash price has made a remarkable recovery, rising from a low of nearly $250 to around $1,330 in just four months. The significant increase has left some traders wondering what's next for ZEC. According to Coinglass, the liquidation data shows that shorts took 70% of the 24-hour losses, with longs accounting for the remaining 30%. This suggests that the current price movement is driven by buyers.

The recent price surge has also led to a breakout above the falling channel, with the 200 EMA at $1,278.34 continuing to rise. The chart analysis suggests that if ZEC closes above $1,355.37, it could point toward $1,501.51, and eventually, $1,700. However, if the price falls back into the channel, the bounce off the 200 EMA would fail, and the chart would point toward $1,100.19.

According to an expert view, momentum has shifted since ZEC bounced off the 200 EMA and left the channel. The next 4H close near $1,355.37 will show whether buyers can hold the move. Short liquidations already helped the climb, so a stall there could bring a quick pullback.