Zcash Price Forecast: ETF selling slows ZEC recovery

• Two days of losses give way to a modest rise in Zcash on Monday, with the price still consolidating within its range.
• $13 million flowed out of ZEC ETFs last week. That followed a $17 million inflow the week before, pointing to mixed investor sentiment.
• $1,112 and $1,340 mark the boundaries of Zcash’s consolidation range, leaving its technical outlook mixed.

$13 million in institutional outflows was recorded for Zcash (ZEC). Retail interest in the privacy coin also remains mixed, although buyers return on Monday, lifting the price modestly after two consecutive days of declines. With Zcash still consolidating between $1,112 and $1,340, the technical picture points to fading momentum.

NU7: ZEC fails to rally as ETF withdrawals continue

Friday’s mainnet launch of Zcash’s Network Upgrade 7 (NU7) cut block confirmation time to 25 seconds from 75 seconds. Buyers have nevertheless remained on the sidelines. The price failed to clear the $1,340 resistance on Friday, setting up two successive days of declines. 

Looking back, last week’s $13 million in outflows reflects institutional reluctance that has overshadowed the upgrade. Further withdrawals from ZEC-focused exchange-traded funds (ETFs) could increase downside risk.

Retail derivatives positioning presents a mixed picture. Over the last 24 hours, ZEC futures open interest (OI) has fallen 2% to $2.68 billion, signalling an unwinding of active contracts. Meanwhile, the funding rate has climbed to 0.0272%, suggesting traders are rebuilding long positions in anticipation of a possible rebound.

$1,340 resistance holds the key to Zcash’s bullish outlook

$1,240 is Zcash’s price at the time of writing on Monday. The coin is testing its 50-day exponential moving average (EMA) at $1,219, substantially above the longer-term 200-day EMA at $876. Together, these averages suggest a supportive near-term structure.

Momentum remains steady and neutral, with the Relative Strength Index (RSI) sitting just under 50. At the same time, the Moving Average Convergence Divergence (MACD) and its signal line are converging around the zero line.

A return to a bullish trend requires Zcash to retake $1,340, the resistance established at the October high. Clearing that level could open the way to the 26 September high of $1,698.

Initial downside support lies near $1,219 at the 50-day EMA. Should selling intensify, the 8 October low of $1,112 provides a deeper structural floor.

(The technical analysis of this story was written with the help of an AI tool. Know more.)