ZCash (ZEC) Price Shoots 10% as Whale Scoops $13.25M

Core Insights - ZCash (ZEC) has experienced a 10% price increase, trading at approximately $446, with a market capitalization exceeding $7.3 billion, indicating strong buying interest in the asset [1] - The price is currently respecting an ascending trendline, with a key demand zone identified near $400, which is crucial for maintaining a bullish setup [2] - A significant support zone exists between $388 and $400, which could act as a rebound magnet, while resistance is noted between $450 and $460 [4][5] Price Movements - ZCash's price rally is accompanied by a 50% increase in daily trading volumes, reaching $709 million, reflecting a bullish sentiment in the market [6] - A newly created wallet has withdrawn 30,000 ZEC, valued at approximately $13.25 million, from Binance, indicating significant whale activity [6] Market Dynamics - The current market dynamics show that ZCash is leading daily capital inflows, attracting around $66.96 million, which further supports the bullish outlook [5] - Analysts suggest that maintaining support above $380 is critical; failure to do so could lead to a correction [3]