Zcash (ZEC) Price Prediction 2024: Would ZEC Price Break to the Upside?

The Zcash price prediction may set a bullish run if the market can climb back above the upper boundary of the channel.

The Zcash price prediction may turn bullish if the market can climb back above the upper boundary of the channel.

Key Levels:

Resistance levels: $40, $42, $44

Support levels: $25, $23, $21

The daily chart highlights ZEC/USD’s impressive resilience despite recent pullbacks in Bitcoin and other major cryptocurrencies. Looking at the chart critically, the Zcash price continues to follow its macro trend resistance line, demonstrating strong performance against downward market pressures. However, the key support and resistance levels for Zcash are identified, with strong support at $31.0 and significant resistance around $35.0. Multiple tests at the resistance level have resulted in rejections, aligning with the macro resistance trend line.

Zcash Price Prediction: Would ZEC Price Break to the Upside?

At the moment, the Zcash price is at a crucial confluence point where trading range resistance intersects with the macro trend resistance, suggesting a potential breakout or breakdown. The point and figure chart analysis clearly shows Zcash’s trend lines and support/resistance levels without time-based fluctuations. Increased buying power and a lack of divergence between impulse waves and demand indicate potential strength. Any attempt to break above the upper boundary of the channel could hit the potential resistance levels of $40, $42, and $44 respectively.

Meanwhile, a bearish break toward the lower boundary of the channel could play out if the bears return to the market and drag the price to the previous support at $31.0. Once this comes to focus, a bearish extension could roll the coin back to the long-term support levels at $25, $23, and $21. However, a continuous fall might further lead to a violent break in the negative side.

ZEC/BTC Could Spike to the Upside

Against Bitcoin, buyers are stepping back into the market while the Zcash price is trying to show some promising signs that could make higher highs should it keep on moving above the 9-day and 21-day moving averages. From the upside, the nearest resistance level lies at 5000 SAT, and the higher resistance lies at 5600 SAT and above.

Meanwhile, from the downside, the nearest support level is located at 4575 SAT, and if the price drops further to create a new low, lower support could be located at 3900 SAT and below. The 9-day moving average is hovering above the 21-day moving average, which shows that the bulls are coming into focus.

Moreover, @holdersignals shared analysis with his nearly 47,000 followers on X (formerly Twitter), indicating that $ZEC is breaking out from the accumulation zone. According to his insights, the next target prices for $ZEC are $40 and $50. This bullish sentiment reflects growing confidence in $ZEC’s potential for a significant upward movement shortly.

$ZEC is breaking out from accumulation zone.

Next target if $40 and $50 ✅ pic.twitter.com/LGcShBitDV

— Crypto Bull ? ( Until 5th Sep 2025 ) (@holdersignals) July 28, 2024

Zcash Alternatives

Zcash has reached the $33 level but needs to cross the upper boundary of the channel to confirm a bullish movement. Despite being ranked 118th, its potential may be limited due to its size. In contrast, PlayDoge, a GameFi project with play-to-earn mechanics, raised $5.8 million in its pre-sale, indicating strong investor confidence and potential growth, especially during an altcoin season.

PlayDoge, inspired by Tamagotchi devices, offers a virtual pet experience on iOS and Android, allowing players to earn tokens by interacting with their digital Doge companion.

PLAYDOGE: THIS COULD BE NEXT BIG GAMEFI PROJECT

However, the economic model of PlayDoge revolves around earning and utilizing PlayDoge tokens through in-game activities, which can be traded for other cryptocurrencies. By tapping into the established market of virtual pet games and adding the modern twist of cryptocurrency rewards, PlayDoge has positioned itself as a promising project in the GameFi space, appealing to both gamers and crypto enthusiasts.

Visit PlayDoge

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