- ZEC is up 520% in a month, nearing $300 for the first time since 2021.
- Technicals suggest a bull flag breakout could send prices toward $336.
- However, extreme RSI readings hint at a possible short-term correction ahead.
After one of crypto’s biggest breakouts this year, Zcash faces a critical test as technicals hint at another 25% move higher—or a sharp cooldown ahead.
Zcash (ZEC) has stunned the market with a 520% surge over the past month, soaring past most major altcoins even as the broader crypto space battled a $20 billion liquidation storm. The privacy-focused coin is now hovering near $254, just shy of the $300 zone it hasn’t touched since 2021, making it one of this year’s strongest-performing digital assets.
ZEC Charts Hint at a 25% Breakout
Technically, ZEC appears to be consolidating within a bull flag pattern, a setup that often precedes another sharp upward leg. Analysts suggest that if buyers push the price above the flag’s resistance, ZEC could target $336, roughly a 25% gain from current levels.
The coin is holding above both its 20-day and 50-day EMAs, signaling that broader momentum remains intact despite short-term volatility. Traders are watching for confirmation of a breakout, as a decisive close above resistance could validate the next big move higher.
What Could Go Wrong?
Still, the chart isn’t without warning signs. ZEC faces a potential slip toward $210 if it breaks below its $245 support, where heavy liquidation clusters could trigger a wave of forced selling. According to CoinGlass data, millions in long positions are stacked around this price, meaning a small dip could snowball into a deeper pullback.
Adding to the caution, Zcash’s weekly RSI now sits above 92, its highest reading ever recorded. Historically, RSI spikes like this have preceded significant cooldowns — the last time it hit 78 in 2021, ZEC fell nearly 70% in the months that followed.
Can the Rally Hold?
If buyers defend the $245 level, ZEC could continue grinding upward toward $307–$336 and possibly retest its 2021 peak near $375. But a failure to hold support would likely trigger a sharper correction as traders take profits from one of the most explosive runs of the year.
For now, Zcash remains the market’s dark horse — a coin defying expectations, balancing between a breakout continuation and a long-overdue cooldown.
