According to ME News, on May 23 (UTC+8), crypto analyst Ali posted on X that Zcash (ZEC), a privacy-focused cryptocurrency, has gained over 40% in the past week. Its current price is approaching the key resistance zone of $700 to $730, which triggered a significant pullback last November. If ZEC successfully breaks through and sustains trading above this range, it could unlock further upside potential; however, if it faces strong selling pressure again, it may repeat its previous pattern of a sharp rally followed by a decline. (Source: ODAILY)
ZEC Approaches Key Resistance Zone from November 2023
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Summary
ZEC is approaching the key resistance level of $700 to $730, a zone that triggered a sharp pullback in November 2023. According to MetaEra and analyst Ali, the price has risen over 40% in the past week. A breakout above this resistance could signal stronger momentum, while a rejection may push ZEC back toward previous support and resistance levels. Traders are closely monitoring how the asset responds at this critical support and resistance zone.
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