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Zcash (ZEC) recorded one of the cleanest trends this year. The coin has stabilized in the last 24 hours, but is still up 30% in seven days, extending its three-month move to almost 570%. Now, the price of Zcash is located at the resistance of an ascending channel that has stopped all attempts to break it since the beginning of December.
There may be another additional payment. The structure shows an upward trend, but there is also confirmation that separates Zcash from its long-delayed attempt to reach $1,000.
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Zcash is experiencing an upward channel – but confirmation is required
Trade like money Near the upper boundary of a rising channel. This channel has led the uptrend since the beginning of December. The price respected each new test, but the buyers need a clean day close above the upper trend line to open the higher target.
The key missing element remains the certainty of capital flow.
The Chicken Money Flow (CMF) indicator, which measures purchasing power with price and volume, showed a slight downward trend while the price was in an upward trend between December 27 and 31. This represents a slight downward deviation. This means that the flow of capital slows even when prices rise, delaying the conviction.
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The CMF indicator, which is still comfortably above the zero line, needs to break its trend line and record a new high above 0.13 to confirm strength. If this happens, the ZCash price may follow this trend. The return of large buyers will likely be the catalyst for this break in the CMF. But the next indicator shows that these buyers can already make a comeback.
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The whales are piling up, the smart money is increasing exposure
The behavior of the spot market reflects the first signs of support.
Zcash whales on the Solana network have recorded a 3.53% increase in balances in 24 hours, bringing their total to 10,587 Zcash. This represents an increase of about 361 zcash, which is equivalent to about $191,000 at the spot market price.
Mega Whales (Top 100 Wallets) added 1%, bringing their stake to 36,323 ZEC. That’s about an additional 360 ZEC, which equates to another $190,000. The whales do not buy much, but they are no longer absent. This indicates that the accumulation is starting to take over.
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Stock exchanges support this view. The supply of ZEC on trading platforms has decreased slightly in the past day, indicating continued accumulation and low liquidity of sales. The decrease remains slight, but the trend is what is most important here.
The derivatives market agrees with this. Smart money positions (non-individual accounts) show a 22.48% increase in net buying exposure. The biggest players in the derivatives market still maintain net short positions in general, but their long positions have increased faster than their shorts (up 745%), which is a rare case so close to resistance, unless a crash is expected.
This is important because whales often push the CMF indicator higher. If the flows from the whales continue, the CMF trend line may break, which will confirm a breakout of the channel.
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Is the Zcash price of $1,000 still possible?
If $594 is broken with the confirmation of the CMF indicator, projecting the pattern from the ascending channel offers an 84% upside target, putting the ZDcash price close to $831 and beyond. This is the launch plan. From that point, the secondary Fibonacci extension path is aligned with a move towards $1,007 as the next major target, i.e. around 89% of the current level.
Consider that invalidation levels are also important. Losing $509 weakens the momentum, while losing $479 returns the neutral structure. If Zcash loses $437, it breaks the channel completely and cancels the bullish scenario.
Follow Zcash to stay above $479, the channel remains valid. Above $594 with CMF support, the breakout remains valid.
