Zcash whales add nearly 13% to holdings as ZEC shows early recovery signs

Beincrypto reports that on-chain data shows Zcash whales increased their ZEC holdings by nearly 13% as the coin attempts to stabilize after a more than 30% sell-off from late-December highs.

Addresses holding more than $1 million in crypto assets raised their ZEC balances over the past week to collectively about 9,962 ZEC, and this accumulation coincided with ZEC reclaiming the $403 level. Technical indicators noted include a MACD histogram that is compressing and nearing a potential bullish crossover (not yet confirmed), a Parabolic SAR flipped below the candlesticks, and higher lows forming since the $363 area. ZEC has climbed nearly 13% over the past three days and trades around $421 at the time of writing, suggesting large holders may be helping absorb sell-side pressure.

Key barriers remain: flipping $443 into support would open a path toward $500, while failure to break above $443 would likely stall the recovery. A breakdown below $403 would weaken the bullish structure and could see price slide toward $363. Whether the MACD crossover materializes and whether buying pressure persists are unresolved and will determine the next moves.

Key Topics

Crypto, Zcash, Zec, Whales, Nansen, Macd