Zcash (ZEC) fluctuates by 27.8% in 24 hours: Driven by US-Iran ceasefire announcement and whale purchases

Volatility Summary

In the past 24 hours, ZEC price rebounded from a low of $266.19 to a high of $340.08, currently reported at $332.87, with an amplitude of 27.8%. 24-hour trading volume surged to approximately $1.4 billion, up 77% from the previous day, with a net capital inflow of about $494,000.

Brief Analysis of Abnormal Movements

- Geopolitical Easing: Trump announced a two-week ceasefire between the US, Iran, and Israel, prompting an overall rebound in the crypto market. Privacy coin ZEC led with over 25% gains, benefiting from reignited privacy narrative.

- Whale Buying and Trading Activity: Whale purchases were a key driver, with trading volume jumping by 77% and whales holding long positions exceeding $1 million.

- Technical Breakout: Price broke through the 5-month downward trendline and inverted head-and-shoulders pattern, hitting the 23% target with volume support.

Market Views and Outlook

Market sentiment has shifted bullish, with mainstream views on X Community believing ZEC/BTC shows relative strength. After the breakout, target price is set at $300-$500, as privacy demand remains strong; however, analysts warn that it is crucial to hold the $320 support, otherwise ZEC could retrace to test $270.