Zcash (ZEC) Price Prediction: ZEC Tests Critical $490 Resistance as Analysts Target Higher Fibonacci Levels

While several market analysts see room for additional upside if the Zcash price clears key Fibonacci resistance, others remain cautious, arguing that the recent rally has yet to invalidate broader bearish patterns.

The divergence in market views comes as Zcash reaches a notable network milestone, with 80% of its total supply now mined, reinforcing discussions around scarcity and the project’s long-term sustainability.

Zcash price approaches major Fibonacci resistance

Crypto analyst CryptDollar highlighted that ZEC is currently testing a confluence of technical resistance levels on the daily chart. These include the 0.786 Fibonacci retracement, the upper Bollinger Band, and horizontal resistance around $490 on the Kraken exchange.

ZEC is testing the 0.786 Fibonacci retracement, upper Bollinger Band, and key resistance near $490, with support levels holding as traders watch for a potential breakout toward higher Fibonacci targets. Source: @CryptDollar via X

According to the chart, the price remains above several previously reclaimed Fibonacci support levels, suggesting that buyers continue to defend higher lows despite recent volatility. A successful move above the $490 region could expose higher retracement targets, while failure at this level could trigger another pullback toward nearby support zones.

He added that privacy continues to represent “not a narrative trend, but a structural need in this space,” highlighting continued demand for privacy-preserving blockchain technologies.

80% of ZEC supply mined highlights scarcity narrative

The technical outlook coincides with an important milestone announced by the Zcash community.

The official Zcash account recently confirmed that 80% of ZEC’s total supply emissions have now been mined, marking a significant point in the cryptocurrency’s issuance schedule.

Zcash highlighted that approximately 80% of its fixed 21 million ZEC supply has now been mined, underscoring the network’s declining issuance schedule and long-term scarcity. Source: Zcash via X

The update also referenced Shielded Labs’ Network Sustainability Mechanism, an initiative designed to support long-term network security and sustainable development as block rewards gradually decline over time.

For some market participants, the combination of increasing scarcity and ongoing protocol development provides additional support for Zcash’s long-term investment case, although supply milestones alone do not guarantee higher prices.

Bearish analyst warns resistance remains intact

Not all analysts are convinced that ZEC is ready for another leg higher. Crypto trader Aladdin_LCA maintained his bearish outlook, saying there has been “no change” to his analysis despite the recent price recovery.

Crypto trader Aladdin_LCA remains bearish on ZEC, warning that long positions carry elevated risk as the token could face sharp rejections at key resistance levels. Source: @Aladdin_LCA via X

His daily TradingView chart outlines several bearish technical formations, including a potential head-and-shoulders pattern, multiple Fibonacci retracement levels, and an anti-butterfly harmonic setup. The chart also identifies a highlighted golden zone that could act as support if the market weakens.

According to the analyst, opening long positions before a confirmed breakout remains a high-risk strategy because price could still face sharp rejection at overhead resistance.

He indicated he would only reconsider his stance if ZEC decisively breaks above major resistance or establishes a fresh low that resets the broader technical structure.

TradingView technical indicators lean bullish despite neutral momentum

Broader technical indicators currently paint a more balanced picture. According to TradingView’s latest ZEC/USD technical summary, the overall rating stands at “Buy.” The 1-week timeframe also reflects a Buy signal, while the 1-month outlook leans Buy to Strong Buy, indicating that the broader trend remains constructive.

Zcash (ZEC) price chart. Source: Brave New Coin

Momentum indicators, however, are less decisive. TradingView classifies its oscillator group—including the Relative Strength Index (RSI 14), Stochastic %K, Commodity Channel Index (CCI), Average Directional Index (ADX), MACD, Momentum, Williams %R, Bull/Bear Power, Ultimate Oscillator, and Stochastic RSI—as Neutral. At the time of the snapshot, individual readings were unavailable because of limited market data, but the aggregate assessment suggested neither overbought nor oversold conditions.

Neutral oscillators often indicate consolidation, with traders waiting for stronger confirmation before committing to directional trades.

By contrast, moving averages present a stronger bullish signal. TradingView’s aggregated moving average rating remains Strong Buy, based on widely followed indicators including the 10-, 20-, 30-, 50-, 100-, and 200-period EMAs and SMAs, alongside the Ichimoku Base Line, 20-period Volume Weighted Moving Average (VWMA), and Hull Moving Average (9).

Although the platform did not publish individual values in the snapshot, the overall reading suggests ZEC continues to trade within a favorable longer-term trend.

Zcash price prediction hinges on the $490 breakout

With ZEC recently trading between $460 and $480 after posting gains of roughly 12% to 16% earlier this month, the $490 resistance area has become the key level traders are watching.

A decisive move above this zone would strengthen the bullish case outlined by Fibonacci analysis and reinforce TradingView’s broader buy signals. Conversely, repeated rejection near resistance could support the bearish scenario that some traders continue to anticipate.

For now, Zcash presents a mixed technical picture: long-term trend indicators remain constructive, neutral momentum signals suggest caution, and analysts remain divided over whether the privacy-focused cryptocurrency is preparing for another breakout or simply testing a major resistance before its next move.