Zcash (ZEC) traded at around $410 at press time, with 24-hour trading volume at $843.81 million. ZEC rose 4.89% in the past day and gained 14.43% over the past week, according to crypto.news data.
Meanwhile, the privacy-focused token has climbed nearly 16.8% in the same weekly window, placing it among the stronger performers in the top 100 cryptocurrencies. ZEC also outpaced Bitcoin and Ethereum during the period.
Recently, Zcash flipped Solana in 24-hour perpetual volume on Hyperliquid. The move stood out because Solana is usually one of the more active assets in derivatives markets.
The shift shows that traders have increased short-term activity around ZEC. It also suggests that speculative capital has moved toward a privacy-focused asset that has often seen quieter trading periods.
Analysts watch $398 and higher targets
Crypto analyst Ardi said ZEC had moved toward the $405 target shared earlier. The analyst added that a continuation move may follow if ZEC pushes past the recent wick sweep pivot. Moreover, Altcoin Sherpa also pointed to $398 as a key resistance level for ZEC.
“If zec can really break this level then I wouldn’t be surprised to see mid 400s/low 500s before the next big pullback,” Altcoin Sherpa noted.
ZEC has now cleared that $398 area, placing attention on whether buyers can hold the level. If the token remains above it, traders may watch the mid-$400 area as the next test.
Still, Altcoin Sherpa did not signal fresh buying at the current price. The trader said he would rather buy higher and also warned that a “big pullback” could follow after the next move.
On-chain warning tempers rally outlook
Just a day ago, Joao Wedson, founder and CEO of Alphractal, gave a more cautious view of the rally. He asked whether Zcash “could be entering a complacency phase during a false rally right now?”
Wedson said ZEC has gained momentum, but lacks strong on-chain structure and sentiment support. He noted that long-term holders moved coins earlier, while current movement from that group has slowed.
He also said social media activity around Zcash has dropped. Lower retail attention can make a rally harder to sustain if price rises without wider market participation.
Wedson added that Alpha Price shows a large gap near $1,500. Based on past behavior, he said that level appears unlikely for now.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
