ZEC Surges Back Above $800 on ETF Hopes, Yet Bulls Face a Crucial Test

• ZEC surges above $800, fueled by ETF optimism and strong derivatives activity.
• Bulls face $820 to $840 resistance, with $858.62 remaining the key breakout level.
• $761 support remains crucial, while elevated leverage could amplify volatility during pullbacks.

Zcash — ZEC, has stormed back above $800 after months of steady accumulation. ETF expectations have added fresh excitement around the privacy-focused cryptocurrency. Buyers cleared $560 and triggered a powerful breakout. However, sellers have returned near recent highs. Momentum indicators also show signs of cooling after the explosive advance. Traders now face a crucial question. Can ZEC defend support and challenge $858.62 again?

Zcash Rally Gains Momentum as ETF Hopes Lift Activity

ZEC spent months trading between $364.24 and $560. Buyers gradually absorbed supply within that range. The prolonged consolidation eventually created pressure beneath resistance. Buyers finally cleared $560 and pushed ZEC above $680. Large four-hour candles drove the token higher with little consolidation. Price then surged toward $858.62 before sellers entered the market. Their limit orders created a large upper wick near the peak. The rejection pushed ZEC toward $760 as traders took profits.

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