- Zcash continues its recovery rally as ZEC approaches the key $680 resistance target after breaking several resistance levels.
- The upcoming Ironwood upgrade is also supporting renewed market interest in the network.
Zcash (ZEC) continued its recent recovery on Thursday, moving closer to a key resistance zone after holding support within its long-running price channel. The move has renewed attention on a possible push toward the $680 area if buyers maintain control.
ZEC traded near $565, gaining about 1.5% in the past 24 hours and almost 24% over the last seven days. The price moved between $519 and $581 during the latest session, while daily trading volume remained near $540 million. Zcash’s market capitalization stood at around $9.5 billion.
Zcash Targets $680 After Breaking Key Resistance Levels
Crypto analyst Ali Martinez highlighted the $675 to $680 region as the next major resistance level for ZEC. The area matches the upper boundary of an ascending price channel that has guided the recent recovery.
The target remains a technical level rather than a confirmed price prediction. A sustained move above current resistance levels would be needed before ZEC can challenge that zone.
Zcash has already cleared several barriers during its latest recovery. Buyers pushed the price above the $475 to $485 resistance range before reclaiming the $520 level. The token later tested the $580 area as it continued to outperform much of the broader crypto market.
Mid-Channel Bounce Drives 35% ZEC Recovery
The current rally follows a successful bounce from the middle section of Zcash’s price channel. Earlier in July, ZEC traded near $419 when the support zone was identified.
Since then, the token has climbed roughly 35% from that level. The previous setup pointed to the channel midpoint as an important area that could determine whether the recovery would continue or face renewed selling pressure.
ZEC has remained above that support zone through recent pullbacks, allowing buyers to push the price beyond the $500 mark.
The $580 to $600 range now stands as the immediate challenge. Zcash briefly moved above $580 but has yet to confirm a strong breakout through the zone.
A move toward $675 would represent an increase of about 19% from the current price near $565. However, the area below $700 to $730 remains a major supply zone after previous rejection during the May rally.
Ironwood Upgrade Adds Support to Zcash Recovery
Zcash’s recent price strength also comes as the network prepares for the Ironwood upgrade. The update aims to introduce a new shielded pool and improve supply verification following issues linked to the Orchard vulnerability disclosed in June.
The Zcash Foundation released Zebra 6.0.0, adding stable mainnet support for Ironwood. The upgrade is scheduled to activate at block height 3,428,143, with activation expected around July 28 if miners, exchanges, wallets, and node operators complete required updates.
With technical resistance approaching and a major network upgrade ahead, Zcash remains focused on whether it can extend its recovery toward the $680 channel target.
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