Zcash (ZEC) is once again becoming the focus of the market, with its price retesting the upper boundary of a months-long symmetrical triangle—the key resistance at $420. As trading volume surges and institutional capital continues to flow in, ZEC may be approaching a decisive breakout.
Currently, ZEC is priced around $395, up about 11% in the past 24 hours, with a total weekly increase of 18%. Although it is still down about 27% over the past month, the strength of the short-term rebound has clearly increased. The seven-day price range has been between $306 and $420, indicating that the market has entered a phase of structural convergence.
The surge in trading volume supports the potential for a breakout. ZEC spot trading volume climbed to $1.28 billion in 24 hours, nearly doubling from the previous day. In derivatives, futures trading volume soared to $5.5 billion, with open interest rising to $895 million, an increase of 21%. This simultaneous inflow of capital into both spot and futures usually indicates that traders are actively taking on risk, rather than passively closing positions.

Bitcoin and the broader crypto market continue to face a difficult stretch, yet IG’s Chief Market Analyst Chris Beauchamp says a turnaround may already be forming
After months of selling pressure and fading confidence, Beauchamp expects a rebound to play out this week as traders position ahead of