Zcash Price Surge Continues Amid Skepticism and ETF Growth
The Zcash price continues its upward trend, reaching an intraday high of $1,256.57 before pulling back to around $1,236.27. This marks the second consecutive day of decline following a rapid vertical move from roughly $800 to above $1,250 in under two weeks.
This parabolic run has pushed ZEC's price well above both the upper boundary of its ascending channel and every EMA on the chart. The 20-day EMA at $963.29 serves as the nearest support level, with the 50-day at $766.30 and 100-day at $639.28 further below.
Despite being overbought with an RSI of 77.99, ZEC has previously reached similar levels without triggering a reversal. The price is still expected to hold above $1,205 for the bullish case to continue, potentially pushing towards $1,300 and beyond.