- Zcash price holds $300 support, maintaining bullish wave structure
- ZEC price up over 50% in 30 days with rising momentum
- Break above resistance could push Zcash toward $423 and $440
Zcash is gaining momentum after a precise technical bounce, with price holding firmly above a critical support zone. As bullish wave structures remain intact and buying pressure increases, traders are watching closely for continuation. With key resistance levels ahead, ZEC appears to be setting up for a potential next leg higher.
Zcash Price Holds Support as Wave Structure Remains Valid
The Zcash price continues to show strength as it holds above the $300 support level. According to analyst More Crypto Online, the recent pullback aligned with the 38.2% Fibonacci retracement near $311. This level acted as a key zone for wave 4 completion.
The ZEC price is currently trading near $355, reflecting steady gains in recent sessions. The structure on the 4-hour chart shows clear wave formations. These include waves A, B, and C, followed by a potential setup for wave 5.
As long as the Zcash price remains above $300, the bullish scenario stays active. This level acts as a critical invalidation point. A breakdown below it would weaken the current outlook and disrupt the wave count.
ZEC Price Momentum Builds as Upside Targets Come Into Focus
Momentum behind the ZEC price has increased in recent weeks. The asset has gained more than 50% over the past 30 days. A strong 24-hour move of over 11% reflects rising interest and trading activity.
Analysts link this surge to increased volume and a short squeeze. Positive sentiment around the Zcashd version 6.12.0 update has also supported the move. These factors have helped sustain upward pressure on the Zcash price.
If the current trend continues, the next resistance levels sit near $423 and $440. These targets align with the projected wave 5 extension. The broader chart structure also shows higher extension levels reaching above $600.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
