Foreign Media: ZEC tests key resistance after rising above $500

According to foreign media reports, Zcash (ZEC) has risen about 5% in the past day, with its price returning above $500 and currently approaching the upper boundary of the consolidation range formed over the past few months. The article suggests that if ZEC can remain stable above $550 and further break through $600, the price range may continue to move upward; however, before resistance is truly broken, this trend remains in the validation stage.

Price Approaching the $550 to $600 Range

Based on the ranges mentioned in the article, ZEC is currently around $510, with immediate pressure at the $550 level. If the daily close is above this level, the breakout formation will be further strengthened; if it continues to surpass $600, market confidence in a trend reversal will be higher.

The article notes that if the price continues upward from the current area to $650 to $660, it would represent a nearly 30% increase. The next supply zone is situated between $750 and $840, but for now, the primary hurdle the market needs to overcome is the $550 to $600 resistance band.

Ecological Updates and Active Privacy Transactions Provide Support

Apart from price performance, the article connects this round of rebound to developments within the Zcash ecosystem. The report highlights that Zcash Labs is advancing multiple initiatives aimed at expanding ZEC adoption in enterprise and institutional scenarios, as well as seeking to establish connections with mainstream payment and financial applications.

In terms of protocol development, the article mentions ongoing work on wallet migration, voting, and core development. Meanwhile, Zcash founder Zooko Wilcox has called for the early activation of the NSM smooth issuance mechanism. The article believes these developments provide ZEC with a more concrete narrative support than short-term trading.

In terms of on-chain usage data, cumulative shielded transactions from the Sapling and Orchard privacy transaction systems have surpassed 3.29 million, with Orchard accounting for over 1.22 million. Based on this, the article suggests that Zcash’s core privacy features are still actively used, rather than solely driving price volatility through short-term speculation.

Lower Support at $490 to $470

The article also points out that the daily RSI is above 60, showing strengthened buying interest, but has not yet entered an obviously overheated zone. The primary support below is at $490 to $470; if this area holds, the current rebound structure can be maintained.

Conversely, if the price faces resistance again and falls below the support level mentioned above, the market may revisit the area around $450. Overall, the main conclusion from the foreign media article is that ZEC is approaching a decisive point for its next phase, but whether an effective breakout forms still depends on whether it can consistently stay above $550 and reclaim $600.