According to external sources, Zcash (ZEC) has increased by about 5 per cent in recent days, returning to a price above $500, and is now approaching the upside of the harvest that has been formed over the past few months. According to the article, if the follow-up station is stabilized at $550 and further breakthroughs at $600, it is expected that the price range will continue to move upwards; however, this trend is still at the validation stage until the resistance is actually breached.
Prices are approaching $550 to $600.
It appears from the text that the ZEC is currently around $510, and the short line is first under $550. If the solar line is above this level, the breakout pattern will be further strengthened; if it continues beyond $600, the market will have greater recognition of the reverse trend.
The article mentions that if prices continue to rise from the current region to $650 to $660, the corresponding increase is close to 30 per cent. The supply zone above is located at between $750 and $840, but the market still has to deal first with the barrier band of $550 to $600.
Eco-renewal and privacy trading activity support
In addition to price performance, the article links this round to Zcash ecological progress. The report mentions that Zcash Labs is advancing a number of efforts to expand ZEC's use in business and institutional settings and to try to establish links with mainstream payment and financial applications.
With regard to the development of the agreement, the work on the transfer of wallets, voting and core development mentioned in the text is still under way. At the same time, Zcash founder Zooko Wilcox called for an early launch of the NSM smooth distribution mechanism. According to the article, these developments provide ZEC with more specific narrative support than short-term transactions.
With regard to the use of data on the chain, Sapling and Orchard have over 3.29 million cumulative block transactions, of which Orchard has over 1.22 million. According to the article, the core privacy function of Zcash continues to be used rather than being driven by short-term speculation.
The support below is between $490 and $470.
The article also mentioned that RSI, which is above 60, shows an increase in the purchase plate, but has not yet entered the apparent heat zone. The first critical support position below is in the area of $490 to $470, and the current rebound structure can be maintained if the area is secured.
On the contrary, if prices are blocked again and the above-mentioned support is broken, the market may look back at the vicinity of $450. Overall, the core judgement of the media article is that ZEC is close to where the next stage is to be decided, but whether or not to make an effective breakthrough will depend on a continuous stop of $550 and the recovery of $600.