ZEC Eyes Breakout as Retail Momentum Builds Near Key Resistance

Zcash (ZEC) is up about 4% on Tuesday, approaching a key resistance level and showing signs it might reverse after falling for five months. Futures Open Interest has grown by over 10% in the past day, reaching $494.77 million, which points to increased activity and interest from retail traders.

Recent market data shows a change in sentiment. About $1.59 million worth of liquidations happened in the last 24 hours, with short positions accounting for $1.11 million, suggesting that some bearish bets are being closed out. Meanwhile, the long-to-short ratio is 1.0751, indicating a slight edge for longs and ongoing buying pressure.

On-chain metrics are relatively stable. Shielded ZEC tokens make up 31.13% of the circulating supply. While there hasn’t been significant growth in adoption yet, any increase in usage could help push the price higher.

Looking at the 4-hour chart for ZECUSDT, the price is testing the 265–270 resistance after bouncing from the 210–220 support zone. The short-term trend looks positive, with higher lows forming and price holding above 247–255, now acting as support.

If ZEC breaks above 270 convincingly, it could move toward 285 and even 330 if buying continues strong. But if it fails to break this resistance, the price might pull back to 247, and falling below that could drag it down to around 220.

Since the price is near resistance right now, entering long positions here carries some risk. A clearer opportunity would be either a confirmed breakout above 270 or a pullback closer to support. Overall, the bias is becoming more positive, but this resistance area is crucial for what happens next.

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