ZEC is demonstrating significant strength, having broken out of a textbook bull flag formation, a pattern often indicative of the start of a new rally. Traders on X are expressing bullish sentiment, with CryptOpus noting that ZEC looks "insanely bullish" and Otto Suwen suggesting that $300 could be the next target if momentum is sustained.
ZEC Bull Flag Breakout Confirms Uptrend
On the 4-hour chart, ZEC price has been consolidating within a tight bull flag, representing a controlled pullback after a sharp upward movement earlier this month. The breakout occurred as the price reclaimed the $245-$250 zone, a level that has acted as both resistance and support over the past two weeks. This zone is now a critical area to monitor for confirmation.
The breakout structure suggests several potential upside targets. The initial resistance is expected around $274, where previous sellers emerged. Surmounting this level could pave the way for a move to $301. If momentum persists, further extension targets are projected around $330 and $360.
A full measured move from the bull flag pattern could even extend towards the $395 region, which would represent a rally exceeding 50% from current prices. For the bull flag breakout to remain valid, ZEC price must hold above $245. A sustained close below this level would weaken the bullish setup and increase the risk of a false breakout.
Zcash Volume and Market Behavior Support the Breakout
Observing the 1-hour chart reveals a noticeable increase in buying volume as ZEC moved back above $250. Dips towards the $240 area have been met with rapid buying pressure, indicating that buyers are entering the market with increasing conviction on each dip. This behavior is a positive sign of accumulation and growing confidence among traders.
Short-term moving averages have begun to trend upward, and momentum indicators are aligning with the breakout structure. As long as ZEC price maintains its position above the mid-$240s, the technical outlook remains bullish.
Analysts Eye $300 and Beyond
CryptOpus initiated a long position in the $245-$250 "blue zone" and has set price targets that correspond with the $274 and $301 resistance levels. Otto Suwen's analysis supports this outlook, stating, "Higher for ZEC. I think $300 is within reach." Both analysts are forecasting a strong continuation of the upward trend once current resistance levels are overcome.
What Comes Next for ZEC
Zcash is currently presenting one of its most technically sound setups in recent months. The breakout from the bull flag pattern, coupled with increasing volume and consistent support bounces, strongly suggests bullish momentum.
If ZEC can achieve a sustained close above $274, the path towards $300 becomes significantly more probable. Furthermore, if the $301 level can successfully transition from resistance to support, ZEC price could potentially extend towards $330 or even $360.
For the time being, traders are closely watching $245 as a key support level and $274 as the crucial breakout confirmation level. If these levels hold, ZEC's next upward movement may already be underway.