One Level Break Could Send the Zcash Price Above $1,000

Core Insights - Zcash has experienced a significant price increase of nearly 21% over the past week, maintaining stability while other cryptocurrencies face challenges [1] - The potential for Zcash to reach $1,010 hinges on breaking through a critical resistance level at $748 [1][5] Price and Volume Analysis - On-Balance Volume (OBV) has been testing a descending trend line since November 7, indicating buying pressure is aligning with Zcash's price movements [2] - A breakout above $748 in Zcash's price, coupled with OBV surpassing its trend line, would provide strong confirmation of the rally [3][5] - The Chaikin Money Flow (CMF) is forming a symmetrical triangle, with a breakout above 0.14 signaling strong inflows from larger holders [4] Resistance and Support Levels - The immediate resistance level for Zcash is at $688, but the key level to watch is $748, which, if surpassed, could lead to a price target of $1,010 and potentially $1,332 [5][6] - A drop below $488 would weaken the current bullish structure and could lead to a decline towards $421, necessitating a rebuild of the price setup [6]