ZEC: Volume Up 51.5%, Open Interest Up 17% as Price Retests $500 Supply Zone
Zcash's 7.04% daily move into the $500-$530 band comes with derivatives data showing fresh positioning, not just short-covering.
Zcash (ZEC) is pushing back into the $500 level with derivatives data suggesting the move has real capital behind it. Daily trading volume rose 51.5% alongside a 7.04% 24-hour price gain, while open interest climbed 17.16% — a combination traders typically read as new positioning entering the market rather than shorts simply exiting.
Where the price sits on the chart
The current retest lands inside a $500-$530 band that has acted as a horizontal supply and demand zone on the daily chart since December 2025. The rally into this zone caps a recovery that began in late June, when ZEC bottomed near $370 following a sharp correction linked to a technical audit of the network’s Ironwood shielded pool.
Daily bias stays bullish for now, but that reading flips if price closes below $299.6, the swing low from April. That level matters structurally because it marked the launch point for ZEC’s earlier run to new highs, making it the pivot swing traders are watching for confirmation of either continuation or reversal.
Weekly structure and momentum readings
On the weekly timeframe, the reference move remains the impulse from $20.71 to $750, with Fibonacci retracements drawn off that range. The 78.6% retracement at $176.78 held during this year’s earlier drawdown, keeping the longer-term bullish structure intact.
Momentum indicators support that structural read: Chaikin Money Flow has trended higher through July to +0.12, pointing to sustained buying pressure, while the Awesome Oscillator sits above the zero line, indicating positive momentum on higher timeframes.
Where the timeframes disagree
The 4-hour chart tells a different story. ZEC printed a higher low at $368 in late June, but short-term structure remains bearish even as daily and weekly charts stay constructive — a divergence that keeps the setup framed as cautiously bullish rather than a confirmed breakout.
Two levels sit between current price and confirmation of a sustained uptrend: the 78.6% retracement at $560, flagged as a significant resistance obstacle, and the local swing high at $644. Until both are reclaimed, the $500-$644 range remains the zone that will decide whether this move extends or gets rejected again inside the six-month supply band.