Bulls Target $500 as Open Interest and Inflows Surge

• Zcash shows bullish momentum, trading near $477 with higher highs and strong EMAs.
• Futures open interest surged to $655M, signaling rising trader engagement and conviction.
• Large holder inflows hit $50M, indicating accumulation and growing investor confidence.

Zcash (ZEC) is gaining momentum after several weeks of consolidation, signaling renewed bullish activity across both spot and derivatives markets. The altcoin trades near $477, showing steady upside continuation supported by strong market participation and improving liquidity metrics. 

Increased inflows and surging open interest indicate that traders and investors are once again turning their attention to Zcash, anticipating a potential breakout above key resistance levels.

Market Structure Shows Strong Momentum

The 4-hour chart reflects a clear upward structure, defined by consecutive higher highs and higher lows. ZEC recently tested support near $452 and bounced back, gaining over 2% in the last session. 

The alignment of the 20, 50, 100, and 200-period exponential moving averages (EMAs) confirms the bullish bias. Significantly, the Supertrend indicator also signals continued buying strength above $370, reinforcing the positive sentiment.

Immediate resistance sits around $484, which ZEC has tested several times without confirmation. A breakout above this zone could trigger momentum toward $500 and later $540, backed by increased volume and improving trend indicators. 

On the other hand, support rests around $417 and $380. If price fails to hold these levels, a decline toward $334 or even $270 could occur.

Derivatives Market Points to Rising Activity

Data from November 4 shows that Zcash futures open interest climbed sharply, reaching $655.28 million from below $100 million in previous months. This represents one of the most significant surges in leveraged activity in 2025. 

The spike coincided with ZEC’s price rising to $433, showing renewed trader engagement and possible short covering. The steep increase in open interest suggests growing conviction among market participants that Zcash could sustain its current uptrend.

Inflows Indicate Accumulation by Large Holders

Capital inflows also support the positive outlook. On November 4, ZEC recorded a net inflow of $50.21 million, marking one of its strongest days this quarter. The sudden rise in inflows followed weeks of neutral liquidity, signaling accumulation by large holders. This shift reflects improving investor confidence and potentially sets the stage for further price appreciation.

Technical Outlook for Zcash (ZEC): Key Levels to Watch Heading Into November

Zcash (ZEC) continues to trade in a bullish formation, holding above critical support zones while showing signs of sustained upward momentum. The price structure remains well-defined, with clear upside and downside thresholds shaping short-term sentiment.

• Upside levels: $484 remains the nearest resistance level, followed by $500 and $540 as potential breakout targets. A confirmed move above $484 could extend gains toward $600 if volume strengthens and momentum persists.
• Downside levels: $417 serves as immediate support, aligning with the 20-EMA. A break below this zone may expose the next supports near $380 and $334. The 200-EMA at $270 represents the key long-term defense area that bulls must protect to sustain the broader uptrend.
• Resistance ceiling: The $484–$500 range acts as a crucial pivot zone for medium-term momentum. A decisive close above this range could trigger an acceleration phase, supported by strong inflows and open-interest expansion.

The technical landscape suggests that ZEC is consolidating near the upper boundary of its bullish channel, indicating possible volatility expansion ahead. Price compression within this range often precedes strong directional movement, particularly when derivatives activity and capital inflows align.

Will Zcash Sustain Its Momentum?

Zcash’s outlook for November depends largely on whether buyers can defend the $417–$380 support cluster. Maintaining this zone would keep the bullish structure intact and open the path to retest $500 and $540. The recent surge in open interest and inflows points to renewed investor participation, suggesting the current trend could extend higher if buying pressure holds.

However, failure to sustain above $380 may invite deeper retracements toward $334 or even $270, where longer-term EMAs could offer support. For now, ZEC remains in a critical consolidation stage, with short-term sentiment leaning bullish but sensitive to volume confirmation. November could define whether Zcash breaks into a stronger trend continuation or re-enters a corrective phase before its next leg higher.