Zcash Price Surges to $1,220 as Institutional Demand Reaches New Heights
Zcash's price has surged to $1,220 after experiencing significant institutional interest. The Grayscale ETF accumulation of ZEC has crossed $500 million in assets under management (AUM), with over 464,000 ZEC held.
The increased demand is fueling the technical breakout, with the ZEC price climbing more than 50% in recent days and pushing above $1200. The buyers are now facing a major resistance zone at $1,435, which could determine whether the rally continues to $1500 or above.
The Cumulative Volume Delta (CVD) turned positive and strengthened, indicating aggressive buying is supporting the rally. However, with open interest surging alongside the price, leverage becomes a concern, potentially making ZEC more vulnerable to sudden liquidations if the price reverses.