Whale quietly buys 30,000 ZEC, big zero coin's trading volume more than doubles in 24 hours

ZCash (ZEC) recently performed remarkably well, defying the overall volatility of the crypto market and rising against the trend, with a single-day increase approaching 10%. According to on-chain analysis data, behind this surge lies the presence of a whale— a newly created wallet address withdrew 30,000 ZEC from an exchange about 9 hours ago, worth approximately $13.25 million. This large transaction immediately drew market attention.

Whale Accumulation Signals a Bullish Outlook

Blockchain data tracking platform found that the wallet marked as t1XKfb made a large purchase of ZEC in a short period, which is usually interpreted by the market as a strong signal of institutional or large investor confidence in the future prospects. Along with this transaction, ZEC’s average daily trading volume soared to over $700 million, a 50% increase compared to usual, reflecting a shift in market sentiment.

Currently, the ZCash price has risen to the $446 range, with market capitalization regaining the $7.3 billion threshold. These series of data changes indicate that both retail and institutional investors are accelerating their positions in this asset.

Technical Outlook: Key Support and Resistance Levels

From the candlestick patterns, ZEC remains on an upward trend line, indicating that buyers still hold the initiative. Technical analysts highlight the demand zone around $400 as a critical support level where the price might pull back. If this area holds, ZEC could continue to seek upward breakthroughs, targeting the resistance zone at $476.

On-chain liquidity heatmaps show dense long liquidation clusters in the $388-$400 range, which also acts as a “short-term rebound magnet.” Once touched, it could trigger short-squeeze and rapid rebound. Conversely, the resistance zone at $450-$460 has accumulated a large number of short positions, and breaking through this area could trigger chain reactions of liquidations, accelerating the upward movement.

Market Sentiment Turns Hot, Funds Keep Flowing In

Data shows that ZEC is currently attracting an average daily capital inflow of about $67 million, ranking among the top in the market. The sharp increase in trading volume coincides with whale buying activity, further confirming the shift in market sentiment.

However, analysts also warn that if the support level at $380 is broken, the current bullish pattern could be invalidated, and a larger correction risk may follow. Therefore, investors should closely monitor this critical support line.