Zcash Extends Rally as $680 Channel Target Returns

Zcash extended its recovery toward $580 on Thursday, moving closer to the upper boundary of a long-running price channel after holding its mid-range support earlier this month.

ZEC traded near $565, up about 1.5% over 24 hours and nearly 24% across seven days. The token moved between roughly $519 and $581 during the latest session, with daily trading volume near $540 million and market capitalization around $9.5 billion.

Crypto analyst Ali Martinez placed the next major resistance at $675 to $680, where the ascending channel’s upper boundary intersects the current trend. The level represents a possible technical target if buying momentum continues, not a confirmed price forecast.

The latest push has already carried ZEC through several resistance areas that capped its June recovery. Buyers reclaimed $475 to $485, moved above $520 and briefly tested $580 as the token outperformed the broader crypto market.

Mid-Channel Bounce Produces 35% Advance

The move follows Martinez’s earlier setup showing that ZEC had successfully bounced from the channel midpoint. Zcash traded near $419 when that bounce was covered on July 5, placing the latest price roughly 35% above the mid-range support test.

That earlier Zcash price analysis identified $680 as the upper-channel objective while treating the midpoint as the level separating continuation from a deeper breakdown. ZEC remained above that support through the following pullbacks before accelerating above $500.

The $580 to $600 area now sits between spot price and Martinez’s channel target. ZEC reached a 24-hour high above $580 but had not established a sustained break through that zone during the latest market check.

A move to $675 would represent an advance of about 19% from $565. The target also sits immediately below the $700 to $730 rejection band that stopped ZEC’s May rally and triggered heavy profit-taking.

Ironwood Activation Supports Recovery Trade

ZEC’s price recovery has tracked preparations for Ironwood, the network upgrade designed to introduce a new shielded pool and restore independently verifiable supply controls after the Orchard vulnerability disclosed in June.

The Zcash Foundation’s Zebra 6.0.0 release added stable mainnet support for Ironwood and set activation at block height 3,428,143. The upgrade is expected to activate around 13:00 UTC on July 28, provided miners, exchanges, wallets and node operators complete their software updates.

The post Zcash Extends Rally as $680 Channel Target Returns appeared first on Crypto Adventure.