Zcash has surged to $1,220, up more than 50% in recent days, as Grayscale's ZEC ETF crosses $500 million in assets under management. The rally has broken a long-standing resistance zone, with traders now watching $1,435 as the next test on the way to $1,500.
Zcash has become one of the top performers in the crypto market, with the price surging to $1,220. The move comes as institutional demand accelerates, pushing the token through a major long-term resistance zone.
Grayscale's ZEC ETF Drives the Breakout
Grayscale's ZEC ETF, ZCSH, has crossed $500 million in assets under management. The fund now holds more than 464,000 ZEC after reaching about $533 million in AUM. This growth highlights rising institutional access to the token. As a result, the demand is adding fuel to an already powerful technical breakout: ZEC has climbed more than 50% in recent days and pushed above $1,200.
The price chart shows a bullish breakout from the long-standing $650 to $700 resistance zone, followed by a sharp acceleration toward $1,200. ZEC now trades above its major moving averages, while Cumulative Volume Delta has turned positive and strengthened, a sign that aggressive buying is supporting the rally.
Can ZEC Break $1,435 on the Way to $1,500?
The price is currently holding above local support at $1,162, leaving $1,435 as the next major resistance. If buyers push through that level and hold it, ZEC could then surpass the psychological mark at $1,500. However, if the price keeps making higher highs while Cumulative Volume Delta flattens or falls, it could signal that buying pressure is losing momentum.
Rising Open Interest Adds Leverage Risk
Open interest has surged alongside the price, climbing sharply as ZEC moved through $1,000 and toward $1,200, which shows fresh positions entering the market rather than the rally being driven only by spot buyers. But this leverage cuts both ways: a large amount of open interest can leave ZEC more vulnerable to sudden liquidations if the price reverses. If ZEC holds above the $1,200 to $1,250 range while open interest stays elevated without a sharp drop in price, the bullish trend could stay intact.
Source: Coinpedia Fintech News
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