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Zcash recorded an increase of almost 10% in the last 24 hours and is trading near $446. The bull flag pattern breakout from December 15 continues to be active, and the expected target is near $655. Both the science forecast and the Fibonacci extension confirm this level. So the goal remains. The problem is the timing.
The market saw the entry of the big whales acting as Santa Claus cashier for the prices, but the rest of the market was not ready to sing yet.
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Huge whales trying to deliver the gift
The top 100 Zcash addresses on Solana have increased their spot holdings by 2.86% in the last 24 hours, increasing from 34,542 to 35,532 Zcash. At the current price ofZECwhich equates to about $441,480 of new sites (limited but significant). This activity supports the idea that a breakout of the bull flag pattern is still meaningful and that long-term confidence is still alive.
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The structure is simple. The bull flag broke on December 15 and has not yet been invalidated. Prices are correct, but the pattern is still bullish. The addition of whales to this structure is the closest thing to a “Santa price” this market has seen all month.
However, timing can be a problem with individual traders who do not follow through.
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Buying the dip is not convincing, and the derivatives are not consistent
Between December 17 and December 23, he testified The price of Zcash shows an upward trend. At the same time, the Money Flow Index (MFI) recorded lower lows. MFI measures buying and selling pressure using prices and volumes. When prices rise and the IMF does not follow, it indicates a weak purchase during the fall and a lack of confidence among the smaller participants. It has not yet reached a breaking signal, but it represents a warning.
The data derived from the Hyperlicode confirmed this hesitation.
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During the 24 hour window:
- Whale Record Permanent Contracts: Net Short Positions.
- Perennial winners continue to be net shorts although some long positions have increased.
- The smart money has shown that it remains net short, indicating a bearish preference (with some long positions forming).
- The first 100 addresses in the perpetual contracts reduced their exposure to long positions instead of increasing them.
While the big whales in the spot market continue to accumulate zdcash (spot buys), the derivatives side does not support the movement. This shows a market that accepts the discovery hypothesis but does not trust the timing.
Simply put, the $655 target remains valid, but the rally lacks broad near-term support.
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Zcash price levels that set the path to $655
The first momentum control point is located near $458. This represents the 0.5 Fibonacci level. If this zone is crossed and the end of each day is above, the path opens towards $479 and then $508. Zdcash price At $546, the momentum matches the original bull flag prediction, and $655 becomes realistic, not just mathematical.
If ZDcash reaches $655, the target of the measured movement of the pennant and the Fibonacci extension to 1618 will be achieved.
If the momentum fails, $411 becomes the first point to check the damage. Under this, $370 threatens complete invalidation. Currently, the structure of science remains intact. The whales try to implement. The sales and derivatives sector is not ready to open the door.
