• Zcash holds strong momentum as price trades near $587 and stays above all major EMAs.
• Market eyes a break above $657, opening room toward $700–755.
• Major accumulation signals appear after the Winklevoss twins invest $50M in ZEC.

Zcash continues to build strength in the market after a sharp climb that pushed the price to $587.40, marking a gain of nearly 17% in a single day.

The chart shows that ZEC remains inside a strong uptrend even after pulling back from the recent $657 high. The price is still trading well above the 20, 50, 100, and 200-day EMAs, with the closest support sitting near the EMA20 at $463.

This wide gap between the moving averages shows how aggressive the trend has been over the past weeks. The recent pullback stayed shallow, with the price holding above the 0.236 Fibonacci level at $508.

Such behavior usually signals a market where buyers step in early, keeping sellers from gaining traction.

If the price pushes back above $657, Fibonacci extensions point toward targets between $700 and $720, with room to stretch toward $780–820 if momentum strengthens.

Also Read: Zcash (ZEC) Eyes $749 Target as Whale Activity Sparks Bullish Momentum

Indicators Point Toward a Healthy Trend Despite Cooling

Market indicators are still favorable for the bullish formation. The Bollinger Bands are still expanding, and this is a sign that precedes powerful direction.

ZEC is selling above the middle of the band and not the top, and this indicates that there is still room to push the band further upwards.

At the same time, the RSI is about 65 following a decline in previous rates to above 73. This gives room to another ascension without going into overheated space. The RSI has no bearish divergence, and this shows that the trend will continue.

The MACD presents its lines above the zero mark, though a weak bearish crossover was observed. This is seen by market watchers as a short-term cooling down instead of a reversal.

As far as the histogram starts improving, that could be an indication of the following expansion stage. The price range of more than $545-560 will help Zcash stay at a comfortable level, and a rise above $657 can lead to another steep upsurge.

However, as noted by BlockchainBaller recently, ZEC has cleanly bounced off of demand and is currently driving back into structure. He indicated the weak high at approximately $755 as the next point that the market might shift to as a way of gathering liquidity.

Major Investors Fuel Fresh Interest in Zcash

Another basic reason for the recent upward attraction came, following Cameron and Tyler Winklevoss, who had pumped in $50 million to buy close to 5% of the supply of Zcash, via their newly established treasury company, Cypherpunk Technologies.

Their history of investment in Bitcoin has established a 10-year-long reputation, and their decision to invest in Zcash indicates a long-term perspective and not trading.

Their interest comes when privacy coins are coming back as governments all over the world advance the creation of CBDC. Zcash has encrypted transactions with optional viewing keys to provide a trade-off between privacy and regulatory requirements.

Also Read: Zcash Eyes $780 as Winklevoss Twins Launch Cypherpunk Treasury