Zcash (ZEC) continues to lead the market recovery, becoming one of the strongest coins in this cycle. Zcash price has increased by more than 230% in a month. Over the past three months, the Token has increased by nearly 1,200%, completely breaking out of the flag pattern on October 24.
Despite the pauses, there are no signs of weakness yet — the uptrend remains intact, supported by strong volume and cash flow.
Retail pressure decreases, large wallet cash flow dominates
The Chaikin Money Flow (CMF) indicator, which tracks the flow of money from large wallets into or out of the asset, shows that Zcash 's bullish momentum is far from over. The indicator broke above a falling trendline on November 3, marking the return of buying from large investors and whales.
The CMF is currently at +0.21, indicating strong inflows above zero — a pattern that typically occurs when the uptrend continues.
Meanwhile, spot netflow data shows that the amount of selling on the exchange has dropped sharply. On November 4, about $41.79 million worth of ZEC was sold, while on November 6, this figure was only $3.66 million.
The drop of more than 91% in the inflow to the exchange shows that the selling pressure from retail investors has cooled down. This could help large investors push prices higher without much hindrance.
The On-Balance Volume (OBV) indicator, which measures cumulative volume by adding up Volume on up days and subtracting down Volume on down days, further supports this. OBV has maintained an uptrend since early October.
This indicator bounced from the support zone around October 30 and has never broken below it, even during Zcash's minor corrections.
OBV rising in tandem with price increases shows that this rally is supported by real money flows, not just speculation.
With CMF trending up, deposits down 91%, and OBV holding its uptrend, all are pointing to big money continuing to lead this rally — leaving little room for a sharp correction, at least for now.
Flag pattern breakout sends Zcash price towards higher Fibonacci levels
Technically, the breakout of the flag pattern on October 24 kicked off the latest rally. Since then, the Token has continued to rise without any accumulation phase, currently trading around $518, up 18% in the last 24 hours.
The next key resistance is at $594, which coincides with the 1.618 Fibonacci extension level. A break above this level could see the price head towards $847 — a target of $2.618, representing a gain of around 60% from current levels.
On the downside, the $384 zone is Zcash’s strongest support. This zone has been absorbing selling pressure since November 1. Only a sharp drop and sustained below this level could lead to a stronger correction.
But given the current structure and strong cash inflows, that scenario is still considered unlikely.
