Zcash rebounds 16% as whales buy, but $300 risk remains

Beincrypto reports Zcash staged a short-term rebound of roughly 16% after hitting a local low on January 10, but the token remains down more than 20% for the week and slipped again in the past 24 hours. The rebound followed a hidden bullish RSI divergence between December 6 and January 10, when price made a higher low while the RSI made a lower low.

On-chain data shows aggressive whale accumulation: mega whale wallets increased holdings 39.07% to 45,103 ZEC, smaller whale wallets rose 17.63% to 10,405 ZEC, and total whale buying amounted to about $5.7 million over the past seven days; public-figure wallets climbed nearly 20% in the same period.

Structural indicators temper the optimism. Zcash is trading below key exponential moving averages, with the 20-day EMA drifting toward a bearish crossover under the 50-day EMA, and net exchange outflows have weakened — peaking near $35.6 million on January 7 and falling to about $10.7 million, a decline of roughly $25 million (nearly 70%).

Key Topics

Crypto, Zcash, Zec, Whales, Rsi, Ema