Zcash is trading near $1,300 on Thursday after three consecutive days of recovery, preserving roughly 15% in weekly gains.
The privacy coin is trading around $1,287 at the time of this report as stronger ETF inflows and rising futures exposure accompanied the rebound.
Grayscale’s Zcash-focused exchange-traded fund recorded $15.18 million in net inflows on Wednesday, according to SoSoValue data. That was a substantial increase from Tuesday’s $1.61 million.
The latest daily inflow marked the strongest reading in approximately a month, following three consecutive weeks of net withdrawals.
The reversal suggests improving demand through the fund. However, two positive sessions do not yet establish that the longer-running outflow trend has ended.
Zcash price: Futures Open Interest climbs to $2.89 billion
Zcash futures open interest reached $2.89 billion , its highest level since September 29, according to CoinGlass figures.
That compares with $2.25 billion on Monday, representing an increase of approximately $510 million.
Open interest measures the notional value of outstanding futures contracts. Its growth can reflect new positions, rising token prices, or a combination of both.
The increase therefore indicates expanding derivatives exposure rather than proving that retail traders alone are returning.
It also does not establish whether newly opened positions are predominantly bullish or bearish.
Combined with the price recovery and ETF buying, the figures point to renewed market participation. Additional leverage could nevertheless amplify volatility if prices reverse.
Zcash technical outlook: ZEC holds above key moving averages
On the four-hour chart, ZEC remains above its 50-period Exponential Moving Average at $1,210 and its 200-period EMA at $1,235.
Trading above both averages supports the near-term recovery structure, although the shorter average remains below the longer one.
Momentum indicators are constructive. The Relative Strength Index stands near 61, indicating positive momentum without reaching the conventional overbought threshold of 70.
The Moving Average Convergence Divergence indicator also remains in positive territory, reinforcing the improving technical picture.
These readings favor the recovery but do not eliminate the possibility of consolidation or a pullback following the recent advance.
Currently, the September 26 peak near $1,698 serves as a significant upside reference if the rally continues.
Reaching that level would require a rally of over 30% from $1,387, making it an extended recovery target rather than an immediate threshold.
A sustained breakout above the peak would strengthen the bullish outlook. Whether it establishes a new annual high would depend on the full year’s trading range.
For now, continued buying and sustained support above the reclaimed moving averages would provide stronger evidence that Zcash can extend its gains.
On the downside, the $1,250 round-number level serves as the first nearby support reference.
Holding above it would help preserve the latest breakout, while a sustained move beneath it could signal that the recovery is losing momentum.
Further down, the 200-period EMA at $1,235 and the 50-period EMA at $1,210 form a broader technical support zone.
Zcash’s ability to defend these levels, alongside continued ETF demand, will help determine whether the recent rebound develops into a more durable advance.
The post Why Zcash price is suddenly nearing $1,300 after weeks of investors pulling out appeared first on Invezz
