Zcash Teeters on Breaking Triangle's Upper Boundary at $1,650

Zcash (ZEC) has been consolidating near $1,531.04, down 1.3% over the past 24 hours, within a narrowing symmetrical triangle formed since September 20's low of $1,450.

Liquidity mapping reveals a resting pool of sell-side liquidity above $1,650, where price has been rejected twice this week, and a larger buy-side liquidity pool stretching from around $1,050 down to $750, built up during ZEC's earlier September rally.

The imbalance between these two pools could be significant in determining the next direction for Zcash. If the nearby liquidity above $1,650 is swept, it could accelerate a break of the triangle's upper boundary and potentially push price toward $1,750. However, losing the $1,450 support risks triggering the larger buy-side liquidity pool below, leading to a faster move down toward $1,300.

Zcash co-founder Eli Ben-Sasson still expects ZEC to reach $5,000 by year-end but admitted he has no explanation for the current price surge. Grayscale filed for a Zcash High-Income ETF, which could generate yield without selling the underlying asset, and may be replicated across other major crypto ETFs if successful.