Zcash Price Forecast: Are steady ETF inflows and retail confidence driving stronger bullish momentum?

• Wednesday’s modest advance puts Zcash on course for a fifth consecutive day of gains, following a 6% rebound the previous day.
• A sixth successive session of inflows saw ZEC Spot ETF attract over $3 million in total on Tuesday.
• A 16% rise in Open Interest over 24 hours and a positive funding rate point to sustained retail confidence in Zcash.

Bullish momentum continues to support Zcash (ZEC) on Wednesday, with its steady recovery above $1,300 bringing key resistance near $1,373 into focus. Persistent buying in Grayscale’s ZEC-focused Exchange-Traded Fund (ETF) has delivered six consecutive days of inflows, including more than $3 million on Tuesday. Derivatives indicators also suggest a buy-side bias among Zcash traders: Open Interest has increased 16% over the last 24 hours alongside elevated short liquidations.

For the recovery to continue towards the $1,698 swing high, Zcash needs to clear the key resistance at $1,373.

Can six days of ETF inflows and higher Open Interest sustain Zcash’s bullish interest?

Renewed interest from institutional and retail participants appears to be supporting Zcash’s near-term recovery. According to SoSoValue data, inflows into Grayscale’s ZEC-focused ETF (ZCSH) increased to $3.45 million on Tuesday from $1.96 million the previous day. With inflows continuing for a sixth consecutive day, the weekly tally so far stands at $5.41 million, building on last week's $41.09 million.

In the retail segment, the notional value of active ZEC futures positions has increased, with CoinGlass data showing Open Interest (OI) at $2.91 billion, a 16% gain over the last 24 hours. A rise in the spot price or a build-up of positions typically drives such an increase in OI. 

Short liquidations accounted for $7.58 million of the $8.11 million in total liquidations during the same period, suggesting a buy-side bias. A positive funding rate of 0.0037% further supports that assessment.

Technical outlook: Does Zcash have scope to recover beyond $1,600?

The broader uptrend remains supported by the 50- and 200-day Exponential Moving Averages (EMAs) at $1,203 and $820, respectively. Trading above both averages and above $1,300 at press time on Wednesday, Zcash retains a constructive bullish bias.

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

Buying pressure remains positive without appearing overstretched, as indicated by the Relative Strength Index (RSI) near 55. Momentum favours further gains, while a strengthening positive profile in the Moving Average Convergence Divergence (MACD) suggests continued interest in the upside.

Should prices retreat, the 50-day EMA near $1,203 and the Fibonacci anchor at $1,049 provide immediate support. A sharper decline would shift attention to the 200-day EMA at $820.

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