Based

bullish

Bitcoin

<p>The ZEC price trend shows a recovery rally despite the Bitcoin price declining to $92,735. With a 28% jump in the last seven days, ZCash makes a comeback in the bull market.&nbsp;</p>   
<p>As the ongoing rally aims for the $100 psychological mark, should you consider buying ZEC? Let’s find out.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-zcash-zec-price-performance">ZCash (ZEC) Price Performance</h2>   
<p>In the daily chart, the ZEC price trend showcases a rising channel pattern at play. The bullish recovery has made two consecutive bullish candles, accounting for a price jump of nearly 40%.</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/27122543/image-22-1024x509.webp" alt="ZEC Price Chart" class="wp-image-385962">
</figure>   
<p><a href="https://www.tradingview.com/x/DOFHWD0W/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>However, within the rising channel, the market cap has recovered by 122% and has crossed the $50 psychological mark. Currently, the ZEC price is at $54.32, with an intraday gain of 5.99%.&nbsp;</p>   
<p>The bullish recovery currently challenges the overhead asset trend line but faces a higher price rejection. This has led to a long wick formation in the intraday candle.&nbsp;</p>   
<p>However, the current price is above the $1.2725 level at $53.68. Closing above this will increase the chances of a breakout rally.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-technical-indicators">Technical Indicators:</h3>   
<p>EMA: The 50-day, 100-day, and 200-day EMA lines maintain a positive alignment as the bullish trend continues.&nbsp;</p>   
<p>MACD: The MACD and signal lines have recovered and regained a bullish gap with a surge of green histograms. Hence, the technical indicators expect a breakout rally in the ZEC price trend.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-will-zcash-price-hit-100">Will ZCash Price Hit $100?</h2>   
<p>Based on the Fibonacci levels, an upside continuation will challenge the overhead price trend line and the 1.618 Fibonacci level at $66.50. If the broader market recovers, the uptrend continuation in ZEC price could reach the $100 psychological mark by the end of December.&nbsp;</p>   
<p>Conversely, the crucial support remains at $45.37, the 100% Fibonacci level. Hence, with a massive upside potential of nearly 100%, the ZEC price shows immense upside potential.&nbsp;&nbsp;</p>   
<p>Curious about ZCash's future? Dive into our <a href="https://coinpedia.org/price-prediction/arbitrum-arb-price-prediction/" target="_blank" rel="noreferrer noopener">ZCash (ZEC) Price Prediction</a> for detailed insights and long-term targets!</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732689514362">
  <strong class="schema-faq-question">What is driving ZEC's recent price recovery?</strong> 
  <p class="schema-faq-answer">A bullish channel pattern, rising market cap, and positive technical indicators like EMA alignments and MACD signals support ZEC's recent price recovery.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732689521692">
  <strong class="schema-faq-question">What are the key resistance levels to watch for ZEC?</strong> 
  <p class="schema-faq-answer">The key resistance levels for ZEC include the overhead trendline of the rising channel and the 1.618 Fibonacci level at $66.50.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732689522476">
  <strong class="schema-faq-question">What could invalidate ZEC's bullish momentum?</strong> 
  <p class="schema-faq-answer">A failure to close above the $53.68 level or a drop below the crucial support at $45.37 could weaken the bullish trend and lead to a downtrend.</p> 
 </div> 
</div>

ZEC Price Analysis: Will $100 Be Achievable by December 2024?

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