Zcash Surges Past $1,300 as Whale Withdrawal Triggers Market Momentum
Zcash (ZEC) has broken through the $1,300 price barrier after a prolonged period of consolidation. The sudden surge is attributed to a decisive breakout from this range and notable whale activity.
A large ZEC holder withdrew 15,300 tokens valued at approximately $17.92 million from Binance, OKX, and Kraken on September 16. This withdrawal has tightened exchange supply and signaled accumulation, adding momentum to the market.
ZEC's price chart shows a sharp rally after breaking above a prolonged consolidation range. The token is now moving within an ascending structure, with the previous breakout region near $1,200-$1,250 becoming the key support zone.
If bulls defend this support and reclaim $1,450, ZEC could target $1,500. However, short-term volatility and profit-taking could trigger a pullback if daily closes fall below $1,200.