Zcash [ZEC]: Open Interest hits multi-month high – Is a price move coming?

Key Takeaways

ZEC surged over 10% over the last 24 hours, shifting its market dynamics from bearish to bullish. The token’s Open Interest has hit its highest level since July, signaling fresh institutional activity that could sustain momentum.

Zcash [ZEC] has broken into the spotlight today, climbing more than 10% in the past 24 hours, at press time.

This rally is particularly significant as it shifts the token’s daily chart from a bearish trend to a more bullish structure. 

The upward momentum was triggered after prices rebounded from a key demand zone, which aligned with a Fibonacci retracement level—adding strength to the move.

Notably, the technical outlook appears optimistic. If on-chain metrics continue to support the trend, the $57 resistance zone could soon come into play.

Institutions step back in ZEC ecosystem?

One of the most striking signals comes from derivatives.

ZEC’s Open Interest (OI) has climbed to levels not seen since early July, suggesting institutions and larger players are once again circling the market.

Historically, rising OI alongside a bullish price action often signals fresh money rather than just short covering, a dynamic that can keep momentum alive.

Source: CoinGlass

Liquidity clusters ahead

Still, the rally faces some challenges. 

AMBCrypto’s in-depth analysis of ZEC’s on-chain liquidity data from Coinglass reveals a dense cluster of sell orders positioned just below the current price range.

To maintain momentum, ZEC will require sustained buying pressure to absorb this supply and prevent a potential slowdown. 

If institutional investors are indeed driving the surge, this resistance zone could be tested sooner than expected.

Source: Coinglass

For now, ZEC is one of the strongest performers in a market that has seen massive corrections. The combination of rising open interest and a shift in technical structure gives bulls a reason to stay optimistic.

Whether this bounce evolves into a sustained trend will depend on how the token handles those liquidity pockets just overhead.