Is it time to buy or sell Zcash? What to expect as ZEC sets sights on $885
Key Takeaways
What are the following worth targets for ZCash?
A rally to $885 and $1,036 was potential within the coming days and weeks.
Does this imply it’s time to purchase ZCash?
Merchants can contemplate shopping for, however it’s too late for traders seeking to maintain for a substantial time interval.
ZCash [ZEC] recovered impressively from its retracement to $424 every week in the past. This retracement measured 43.42% at its peak, and prolonged from $750 to $424.35.
It solely took 5 days to play out, and bulls have been able to bid and drive the uptrend larger.
Nevertheless, because the seventh of November, Bitcoin [BTC] has dropped by 8%. Throughout this era, ZEC has gone down by 8.98%.
Is that this the time to purchase or promote ZCash? Was the current retracement and the following restoration an indication of bullish energy?
The ZCash dilemma — purchase, promote, or maintain?
Supply: ZEC/USDT on TradingView
A bearish divergence (white) between worth and momentum has developed on the every day timeframe. This means a retracement is probably going over the approaching days, and will take costs again to the $500 mark.
The divergence heightened the chance of volatility within the coming days. Nevertheless, zooming out, we discover that the time to purchase ZEC was a good distance behind us. Now’s the time for long-term holders to promote their ZEC.
If attempting to make some beneficial properties, the chance proper now could be too excessive in comparison with the reward. The privateness narrative can nonetheless drive ZEC as much as $880 and $1,030, however this chance comes with sizeable draw back danger.
Supply: ZEC/USDT on TradingView
In mid-2024, ZEC fashioned a bullish weekly construction after a rally past $35.59 within the first week of August. Towards the top of 2024, the $47 resistance was breached.
The next retracement within the first half of 2025 noticed a retest of the demand zone at $30, marked in cyan. The bullish construction shift and the breakout previous a key resistance stage have been the technical clues for purchasing ZCash.
The privateness narrative started to realize traction in September, strengthening in October. Technical and narrative energy mixed to ship costs hovering.
As a substitute of shopping for ZEC now, traders ought to do their analysis and discover tokens with a compelling use case or potential narrative with a promising construction, with ZEC’s run for reference.
In a post on X, CEO of Bitwise Asset Administration Hunter Horsely requested Crypto Twitter denizens for his or her arguments in opposition to ZCash and in favor of Bitcoin, and “only Bitcoin“.
Critics identified that nothing fundamental has changed about ZCash prior to now six months. The rally was not due to a elementary shift, however one pushed by hype, FOMO, and a strong privateness thesis.
Subsequently, new entrants to the ZCash market face excessive dangers and comparatively small rewards. A better transfer is to search out different tokens to purchase that broke key resistances and have been revisiting pivotal demand zones.
Disclaimer: The data offered doesn’t represent monetary, funding, buying and selling, or different sorts of recommendation and is solely the author’s opinion
