Zcash exchange balances plunge amid accumulation, $500 level in focus

Beincrypto reports Zcash (ZEC) exchange balances have plunged sharply, signaling strong accumulation and reduced immediate sell-side pressure as the altcoin's price prepares for a potential rise.

On-chain data show ZEC held on exchanges dropped by roughly 48% over the past 24 hours, a move that typically reflects investors withdrawing tokens to private wallets. The Chaikin Money Flow has formed a bullish divergence: while ZEC posted lower lows, CMF continued to print higher highs, indicating rising net inflows that can precede breakouts.

ZEC traded near $380 at the time of writing, range-bound between $340 and $405. A confirmed move above $450 would cancel a previously projected 55% decline toward $171 and could open a path toward $504, while renewed selling or broader market weakness could push ZEC below $340 and toward $300. The report includes a disclaimer that the analysis is for informational purposes only and should not be considered investment advice.

Key Topics

Crypto, Zcash, Zec, Chaikin Money Flow, Exchange Balances, Nansen