Zcash Price Forecast: Steady ETF inflows and retail confidence drive bullish momentum

• A 6% rebound the previous day precedes further gains for Zcash on Wednesday, taking its winning streak to five consecutive days.
• Over $3 million flowed into the ZEC Spot ETF on Tuesday, extending its run of inflows to six consecutive days.
• A 16% increase in Open Interest over 24 hours and a positive funding rate signal continued retail confidence in Zcash.

Zcash (ZEC) holds above $1,300 on Wednesday. Its steady recovery is bringing key resistance near $1,373 into focus. Buying pressure persists in Grayscale’s ZEC-focused Exchange-Traded Fund (ETF), which has attracted inflows for six consecutive days, including more than $3 million on Tuesday. Derivatives positioning also points to a buy-side bias: Zcash Open Interest has climbed 16% over the last 24 hours alongside elevated short liquidations.

A sustained recovery towards the $1,698 swing high requires Zcash to clear key resistance at $1,373.

Six Days of ETF Inflows and Higher Open Interest Support Zcash Bulls

$3.45 million flowed into Grayscale’s ZEC-focused ETF (ZCSH) on Tuesday, according to SoSoValue, compared with $1.96 million the previous day. Renewed signs of institutional and retail interest are underpinning Zcash’s near-term recovery. Weekly inflows now total $5.41 million, adding to last week's $41.09 million and extending the daily inflow streak to six consecutive days.

Turning to retail activity, ZEC futures Open Interest (OI) has reached $2.91 billion after rising 16% over the last 24 hours, CoinGlass data shows. The increase reflects a higher notional value of active positions. Such growth in OI typically stems from a higher spot price or a build-up of positions. 

Of the $8.11 million in total liquidations over the same period, short positions accounted for $7.58 million. This suggests a buy-side bias, with the positive funding rate of 0.0037% providing further support.

$1,600 in Focus: Zcash Technical Rebound Outlook

Above $1,300, Zcash retains a bullish technical bias at the time of writing on Wednesday. The price remains above its 50- and 200-day Exponential Moving Averages (EMAs), at $1,203 and $820 respectively, supporting the broader uptrend.

At $1,373, the 50% retracement of the decline from $1,698 to $1,049 is drawing closer. This level halted advances earlier this month. A confirmed break above it could pave the way for a move towards the $1,698 swing high.

An RSI reading around 55 points to positive buying pressure without signs of overextension. Momentum therefore favours further gains, while a strengthening positive profile in the Moving Average Convergence Divergence (MACD) suggests sustained interest in the upside.

Initial downside support lies near $1,203 at the 50-day EMA, followed by the Fibonacci anchor at $1,049. A larger decline would put the 200-day EMA at $820 in focus.

(The technical analysis of this story was written with the help of an AI tool. Know more.)