Zcash price eyes $560 resistance ahead of OKX re-listing

Zcash price is gearing for another move upwards, with traders watching liquidity shifts ahead of its return to OKX.

At the time of writing, Zcash was trading at $536, down 3.2% in the last day after fluctuating between $531 and $606. The pullback comes after a turbulent week that pushed the token down 22%, though its monthly gain is still strong at 99%. 

Trading activity has cooled noticeably, with daily volume dropping to $1.19 billion, about 42% lower in the last day. Derivatives data point to the same slowdown, as Zcash (ZEC) futures volume slid 25% $4.25 billion and open interest dipped 4% to $929 million.

This likely indicates that fewer traders are placing large leveraged bets, suggesting the market is catching its breath after a strong run.

OKX prepares to re-list Zcash

The upcoming OKX re-listing has been the center of market attention. On Nov. 23, the exchange confirmed that ZEC will return to spot trading after being delisted last year alongside several privacy coins during a regulatory cleanup. 

OKX now says Zcash fits improved compliance expectations and has shown strong performance that caught the exchange’s attention. The announcement sparked a quick jump in price, sending ZEC more than 12% higher toward $600 before the move cooled off.

The token then gave back part of the gains as liquidations kicked in and traders locked in profits.

According to the exchange’s update, OKX will open ZEC/USDT spot trading at 8.00PM (UTC+8) on Nov. 24, with withdrawals set to go live two hours later. The anticipation around this timeline has added a layer of short-term volatility, especially as liquidity shifts between futures and spot markets. 

November has been unusually eventful for Zcash. Mining activity has climbed to new highs across hashrate, difficulty, and node participation. 

Through its trust product, Grayscale now manages more than $229 million in ZEC, and Cypherpunk Technologies recently increased its reserves to over 230,000 ZEC.

Long-term security-focused updates, such as tools for private cross-chain payments and features made to withstand potential quantum attacks, are also being released by developers.

Zcash price technical analysis

On the chart, ZEC is trading below its short-term resistance area around $560–$580, where the 10-day and 20-day moving averages are clustered. Losing these levels earlier in the week shifted the short-term tone to neutral-to-soft. 

The market is now watching whether the token can hold the $500–$510 region, where the 30-day averages sit, and where buyers stepped in during the last consolidation.

Momentum readings are mixed. While MACD and momentum indicators suggest waning strength, the relative strength index near 52 indicates no extreme pressure. Most oscillators sit in the middle ranges, suggesting indecision.

A push above the short-term averages would open the door to another attempt at $600–$620, but ZEC first needs to reclaim the $560 zone with convincing volume. If it loses support under $500, the next area to watch sits around $460–$480, where the previous base formed earlier this month.