Zcash gains 15% as buyers finally step in: $615 coming soon for ZEC?

Zcash gained 15% on the 27th of December, drawing widespread attention from crypto enthusiasts as it opened the door for a potential massive price uptick. 

This upside move comes at a time when the broader crypto market is struggling to gain momentum, even as Bitcoin and Ethereum posted marginal gains of 0.16% and 0.25%, respectively. 

According to TradingView, Zcash [ZEC] has surged by more than 15.05% in the last 24 hours, trading near the $510 level at press time.

Investors have shown strong interest in the asset, as trading volume soared by 45% to $665 million.

Rising trading volume alongside the price suggests that market participants are interested in ZEC’s current momentum, pointing toward a bullish outlook.

Why is Zcash’s price rising?

The key catalysts behind Zcash’s upside momentum appeared to be growing whale demand, increased long-leveraged bets by traders, and a key breakout that has now opened the door for a massive upside move.

Data from the on-chain analytics platform Nansen revealed ZEC’s top 100 holders have increased their holdings by 48.22% over the past 30 days, indicating the asset’s bullish long-term potential.

Meanwhile, during this period, ZEC’s price remained largely sideways and struggled to gain momentum.

Source: Nansen

Apart from ZEC’s long-term outlook, another metric reinforcing the asset’s bullish bias is strong support from intraday traders.

Data from the derivatives analytics platform CoinGlass revealed that traders with a bullish outlook were dominating the market at the time of writing.

Notably, traders were over-leveraged at $477 on the lower side and $531 on the upper side, with $18.33 million in long-leveraged positions compared to $4.73 million in short-leveraged positions.

Source: CoinGlass

This imbalance suggests strong conviction in ZEC’s upside momentum.

ZEC: Price action and key levels to watch 

According to AMBCrypto’s technical analysis, with this 15% price jump, ZEC has successfully broken out of an ascending triangle pattern formed on the daily chart.

Following this breakout, the asset successfully ended the prolonged bearish trend it had been experiencing since mid-November 2025.

Source: TradingView

Based on the current price action and historical patterns, if ZEC successfully closes a daily candle above the $490 level, it could maintain its upward momentum and potentially reach $615 in the coming days.

However, ZEC’s bullish outlook would be invalidated if it fails to secure a daily close above the $490 level.

Final Thoughts

• Zcash topped the crypto market with an astonishing 15% gain, outperforming major assets, including Bitcoin and Ethereum.
• With this strong rally, ZEC has broken out of an ascending triangle pattern, opening the door for a potential additional 19% gain.