Zcash Price Analysis: ZEC Eyes $662 Retest After Major Whale Withdrawal

Whales are making moves—and Zcash is feeling the ripple.

ZEC just got a massive liquidity shock after a major holder pulled funds from exchanges. That kind of withdrawal typically signals one thing: accumulation. When big players park assets in cold storage, they're not planning a quick sell. It tightens supply, and in crypto's simple economics, less floating supply against steady demand tends to push price north.

The Technical Setup

Charts are now hinting at a retest of the $662 level. That's a key psychological and technical zone—previous resistance that could flip to support. The move follows a consolidation period that's shaken out weak hands. Momentum indicators are curling up from oversold territory, suggesting the selling pressure has exhausted itself. It's a classic spring-loading pattern.

Market Mechanics at Play

This isn't just chart artistry. On-chain data shows exchange reserves dropping. Fewer coins on trading platforms mean less immediate selling pressure. Meanwhile, the privacy coin narrative keeps simmering in the background—regulatory chatter about financial surveillance always gives ZEC's value proposition a subtle nudge. It's the go-to asset when traders feel like opting out of the panopticon, a sentiment that's priceless in some circles.

The Road to $662

For the retest to hold, we need sustained buying volume. Watch for ZEC to reclaim key moving averages. If it can break and hold above $662, the next targets open up. Failure? A slide back into the consolidation range. But with the whale withdrawal acting as a vote of confidence, the path of least resistance looks upward. Just remember, in crypto, 'whale confidence' can sometimes be a polite term for 'trying to pump their own bags.'

Final take: The pieces are on the board for a ZEC rally. Whale activity set the stage, and the technicals are aligning. Whether it's a sustained trend or another fakeout depends on whether the broader market decides to play along—or gets distracted by the next shiny thing.

Zcash’s Explosive Rally Meets Precision Resistance

However, the crypto analyst, Javon Marks, revealed that Zcash (ZEC) has made one of the most accurately technical transitions within the current events in the cryptocurrency market, rising to a record-high level of nearly 2,000% to hit the target price of $662.99 that has already been predetermined prior to its rise. Its price rise has almost halted at a level where a strong market reaction has been noticed in the price charts to determine it as a significant resistance level.

Source: Javon Marks

After the rejection at $662.99, ZEC embarks on a critical phase of consolidation. Based on the sell-side volume triggered following the rejection, profit-taking appears to be accelerating; however, market orientation continues to command primary attention. Whether a pause in market action translates into a continuation pattern or a corrective phase depends on market developments.

Momentum Indicators Flash Bullish Signals for ZEC

The Relative Strength Index (RSI) is seen hovering around 58 levels after bouncing back from the mid-40s, indicating a gain in momentum after a recent retreat. Though still below the level of 70, a zone that marks the overbought level, being above the 50 mark indicates a possible regaining of control by the buying forces, although a short-term consolidation phase cannot be ruled out.

Source: TradingView

At the same time, the MACD has signaled a bullish crossover, with the MACD line crossing above the signal line while the histogram is turning positive. One should note that ZEC may continue moving up if the buildup of momentum sustains the RSI rise towards the 60-65 range, whereas crossing the RSI 50 level down WOULD constitute the resumed risk of the fall.

Also Read: Zcash Breakout Alert: ZEC Eyes $500–$560 After Strong Consolidation