Zcash (ZEC) Price Outlook: Double-Bottom Formation Signals $849.95 Potential
- Zcash (ZEC) shows a bullish setup near the $500 support zone.
- Double-bottom indicates buyers are stepping in at each dip.
- RSI and MACD show slowing yet still present momentum.
- Reliance Global Group has fully moved its treasury into ZEC.
Zcash (ZEC) is showing a bullish setup on the chart, with the harmonic pattern completing near point D. Several Fibonacci levels come together in this zone, making it a strong zone for potential price reaction. The retracement and extension levels align well, adding weight to the structure. With ZEC now at $500.31, the price remains close to this important support region.
Crypto analyst @hyperbitcoins highlighted that A clear double-bottom has formed near the same level, showing that buyers are stepping in each time the price dips. The candles around the lows look calmer, suggesting selling pressure is fading. This usually occurs when a market is preparing to reverse. As long as ZEC holds above the $480–$495 area, the short-term outlook stays constructive and buyers remain active.
The only major risk comes if the price breaks below $440.42, which would invalidate the pattern. Above that mark, the chart still favors a move toward the $600–$650 region, with room for higher targets around $720 and even $849.95. With supportive structure, steady buying interest, and early signs of a shift, ZEC has a reasonable chance of pushing upward from here.
Also Read: ZEC Price Prediction: Will Zcash Crash Further in 2025?
Momentum Indicators Show Slowing Bullish Strength
The RSI stands at 69.47, lower than the high of 76.31, showing some retreat from the overbought position. The break above 70 reflected intense buying, but the fall in the indicator now shows weakening demand. There are still some bulls in the market, although the pace has slowed following the fall to $498.69.
The MACD value is 136.33185 and is above the signal line, with a value of 87.27194, and hence the bullish trend is still intact. The histogram has fallen to 49.05991, signifying that the momentum is weakening, and the gap in the MACD is closing. In the earlier bars, there was strong growth, and now the smaller bars imply that the bullish power has weakened.
Reliance Global Group Fully Transitions into ZEC
Reliance Global Group, Inc. said on Tuesday that it has finished a major realignment of its Digital Asset Treasury. The company said that it has considerably simplified and clarified its strategy by transferring all the company’s digital asset holdings to the Zcash cryptocurrency, commonly abbreviated as ZEC.
The firm noted that this change should improve how it manages its treasury and support its longer-term digital asset plans. By embracing the full use of ZEC, the company hopes to leverage the dependability, flexible transparency, and privacy technologies offered by the cryptocurrency in defining its long-term financial plans.
Also Read: Zcash (ZEC) Price Outlook gains strength as Market Eyes $655 Target
