Zcash Whale Withdrawals Signal Major Accumulation as ZEC Price Targets $695 Breakout
Whales are making their move. A surge of Zcash withdrawals from major exchanges isn't just noise—it's a calculated accumulation play. The smart money is quietly positioning itself, betting on a supply squeeze that could send prices soaring.
The Whale Watch Is On
Forget retail sentiment. When large holders pull assets off exchanges and into private wallets, they're not planning a quick sale. This is a classic long-term accumulation signal. Reduced sell-side liquidity on trading platforms creates the perfect storm for volatility—upwards.
The $695 Horizon
All eyes are on that key resistance level. A clean breakout above $695 isn't just another price point; it's a technical confirmation that would open the floodgates to significantly higher valuations. The chart is setting up for a momentum move that could leave slow-moving traders in the dust.
Privacy in Demand
Zcash's core value proposition—financial privacy—isn't going out of style. In a world of increasing surveillance and KYC hurdles, demand for shielded transactions has a fundamental tailwind. Sometimes the best investment thesis is simply giving people what banks and governments want to take away.
The stage is set. Whale accumulation, a looming technical breakout, and a resilient use-case. It's a potent mix that could see ZEC shake off its consolidation and make a serious run. Just remember, in crypto, the 'smart money' is often just the money that got there first and is now trying to convince everyone else to follow—the oldest trick in the finance book.
Zcash (ZEC) Nears Breakout After Tight Consolidation
Moreover, the crypto analyst Cryptorphic highlighted that Zcash (ZEC) is actually undergoing a tight range of consolidation, where price is being compressed within a clear descending triangle.
This comes after the successful defense of a defined zone of demand, which makes it apparent that selling pressure is waning while buying pressure remains present to fuel further price reversals. Historically, such periods of compression tend to be followed by strong price movements.
Source: Cryptorphic
A move above the triangle resistance can trigger a relief rally toward $469 in the short term, $528 in the medium term, and $607 and $695 in the long term if the buying momentum gets activated, along with the unwinding of sell positions. This trading setup WOULD be valid only if ZEC stays above $348, with a breach below rendering the positive outlook invalid.
Zcash (ZEC) Surges Above EMAs as Bulls Take Control
ZEC on the four-hour chart is showing a sharp recovery, with the price breaking above all major EMAs. The EMA stack is turning bullish, signaling a trend reversal. Former resistance around 430 to 435 has flipped into support, while upside resistance sits NEAR 460 to 470. Overall structure favors continued upside momentum bias.
Source: TradingView
Momentum indicators are positive and confirm the strength, though there is a warning that the trend may cool. RSI at 68 shows that there is strong buying interest, with the index nearing the overbought levels. The MACD is positive and shows strong bars and a crossover. This supports continuation, though short-term pullbacks toward EMA supports would be healthy.
Also Read: Zcash (ZEC) Price Shows Strength With Technical Signals Hinting $480 Break
