Where will Zcash [ZEC] go next? Liquidity, Futures data all suggest…
Zcash (ZEC) has experienced a significant price decline, falling approximately 16% in 24 hours. Despite this, some stabilization is observed between $212-$218. Technical analysis reveals a Fair Value Gap (FVG) acting as a demand zone between $77-$116, suggesting a potential rebound may require a further drop into this area first. A double bottom pattern forming around $202.44 also increases the probability of a bullish reversal. Liquidity clusters are denser above the current price, particularly in the $250-$260 range, indicating a gravitational pull for an upward move. Positive funding rates and open interest in perpetual markets show dominance from long positions, supporting the case for upside. Recent spot market inflows, including a significant $13.7 million movement into private wallets, signal renewed retail interest. While short-term volatility and outflows exist, the overall market structure, liquidity positioning, and derivatives data suggest an elevated probability of a recovery, contingent on how price reacts at key support levels.
ambcrypto02/07 02:02