Zcash (ZEC) has recovered to an important support zone and is retaining a positive pace for the ZEC price breakout, despite its long-term trend still favoring the bulls. The increased volume indicates more participation in the trade, while declining open interest reflects lower speculative interest from market players.
At present, ZEC is trading at $453.22 with a 24-hour trading volume of $665.61 million and a market capitalization of $7.52 billion. Despite a 9.14% loss over the last 24 hours, the ZEC price structure and rising volume point to a bullish reversal ahead.
Crypto analyst Third Eye believes that the ZEC price is riding the wave of positive momentum on a new bullish trend, with experts highlighting a good 4-hour setup due to a break of the structure recently.