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ZCash [$ZEC] was trading above the $500 level once again. Since forming a local low at $451 on Wednesday, the 29th of July, $ZEC has steadily climbed higher. The privacy token was up 12.48% over the past week.
These gains have thrust the ZCash token price back above the hotly contested $500 area. Its importance stretched back to December 2025, when a rejection from this psychological round-number resistance saw a pullback to $176.
The higher timeframe trend was bullish after the rally to $750 in 2025. The deep pullback since then can be regarded as part of the uptrend. This view is reinforced by the bullish reaction from the $176 level, which is the 78.6% Fibonacci retracement level, in March 2026.
Towards the end of July, $ZEC began to fall below the $500 area. Moreover, it aligned with the bearish 4-hour timeframe structure. Based on this, as well as Bitcoin’s [BTC] inability to climb above $67.3k, a bearish short-term move was expected for ZCash.
The 1-day was bullish, the push above $500 seems like a signal, but the H4 structure is bearish. The OBV on either timeframe has been flat in recent weeks, a sign of equilibrium between buyers and sellers.
What should $ZEC traders expect next?
The $360-$377 area has been highlighted as a key support in a recent report. A lack of firm momentum in either direction was also noted. The Ironwood upgrade, activated on the 28th of July, might have reinstated confidence in the network, but not enough to attract strong capital inflows.
The price action in recent weeks was likely influenced more by liquidation clusters, also known as magnetic zones, than aggressive spot trading volumes.
The $ZEC price reaction from $367 in late June and $590 in mid-July helps make this point.
If this trend continues, the two key nearby magnetic zones to monitor will be $530 and $450. Hence, swing traders can wait for a sweep of these regions to enter, anticipating a reversal toward the magnetic zone in the opposite direction.
Final Summary
- ZCash has made strong gains over the past week and was once more trading above $500.
- Analysis of the liquidation heatmap, combined with the lack of significant movement on volume indicators, suggested liquidity pockets might be driving short-term price trends.