- Zcash (ZEC) whales have increased their holdings during a recent 42% price drop, signaling strong buy-the-dip interest.
- If the $320 support holds, ZEC could potentially rally up to 60%, supported by rising volume and bullish market indicators.
Zcash (ZEC) has slid 42% over the past two weeks, with recent market activity hinting at a potential rebound. Analysts point to whale accumulation, bullish derivatives positioning, and a strengthening price structure as key factors behind renewed optimism.
Whales Step In During the Dip
Data from Nansen shows that the top 100 ZEC wallet addresses increased their holdings by 8.85%, adding 42,623 tokens. Other significant holders also boosted their positions, with an increase of over 5.06%. This pattern highlights a classic “buy-the-dip” strategy among major players, suggesting confidence in ZEC’s near-term prospects.
Trading activity supports this sentiment, with volume jumping 43% to $495.35 million, according to CoinMarketCap. Derivatives markets further confirm a bullish tilt. CoinGlass reports that long positions are concentrated around $325, while shorts cluster near $365. Traders have built $7.37 million in long-leveraged positions versus $5.45 million in shorts, signaling expectations for upward price movement.
Key Support Levels Hold
Spot price action is equally encouraging. ZEC traded near $351, marking a 7% gain on the day, and has repeatedly defended the $320 support level, a zone held since October 2025. This marks the fourth retest of that level, which historically preceded rallies of over 60% within a month. While past performance does not guarantee future gains, it indicates a potential bullish setup if the support continues to hold.
The Money Flow Index (MFI) also suggests growing buying pressure, rising from oversold conditions to 37.76. This indicates that volume is supporting the recent upside movement. Yet, the price remains below the 50-day Exponential Moving Average (EMA), signaling that ZEC is still technically in a downtrend, though similar conditions were observed during previous strong rallies.
Expert Insights and Caution
Crypto trader Whale.Guru projected on X that ZEC could eventually surge toward $2,000. While highly speculative, this underscores growing confidence among market participants that ZEC may be entering a trend reversal phase.
The accumulation by top ZEC wallets and improving technical indicators suggest a buying opportunity, with the $320 support level remaining critical. If ZEC holds this zone, a potential rally of up to 60% could be on the horizon, though broader market conditions will ultimately dictate the outcome.
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