- Zcash gained 19.2% in a week, trading at $47.89 after confirming a breakout from a long-term falling wedge.
- The $42.36 support level proved critical, flipping from resistance and strengthening ZEC’s bullish momentum.
- Price now tests $47.98 resistance, with a narrow trading range forming as market participants monitor the next move.
Over the last one week, Zcash (ZEC) has maintained a significant momentum and improved by 19.2 % to a value of $47.89. The cryptocurrency has continued to gain smooth traction following a confirmation that it broke out of a long-term falling wedge formation. Over the last seven days, the asset has also appreciated 12.0% against Bitcoin, reaching 0.0004312 BTC. This technical breakout has developed following several retests of a key demand zone, highlighting the importance of the $42.36 support level.
Source: (X ) The breakout structure has lifted ZEC above multiple resistance lines, with price action now consolidating near the $47.98 ceiling. The move has already produced a gain of more than 15% from recent lows. Market activity shows that buyers defended the $42.36 area effectively, leading to a swift rally toward current levels. Notably, the latest rebound confirms the breakout trajectory that began forming in early September.
ZEC Holds Above $42.36 as Support Retest Reinforces Breakout Strength
In recent sessions, ZEC retested its former resistance levels, which have now flipped into support. This retest around $42.36 has proven crucial for sustaining bullish momentum. The rebound resulted in a measured extension, adding 0.97 points or 16.30% in the short term.
Price levels have since remained comfortably above the breakout zone, limiting the risk of a deeper retracement. Furthermore, the technical picture indicates that previous supply barriers have weakened, enabling more stable progress.
ZEC Trades Near $47.98 Resistance as Narrow Range Shapes Next Move
With the price currently near $47.89, ZEC continues to test the $47.98 resistance band. This zone has capped advances in recent sessions, creating a narrow trading range. However, the sustained defense of the lower levels reinforces market stability for now.
The fact that ZEC has been able to record weekly gains and remains above the critical support base points to the importance of the predicted wedge breakout. The subsequent directional shift will probably be contingent on the price-resistance interaction in the following sessions.
