Zcash is showing some interesting price action on the daily chart. After the massive rally and the recent correction, price has started building a structure inside an ascending channel. Buyers are defending the rising support zone, and we're seeing another attempt to push the market higher.
The $1,363 area remains a strong resistance level. If bulls can break above this level and hold it as support, the next major challenge sits around $1,700. A clean breakout above that level could open the door for another significant upside move.
For now, I'm watching how price reacts around the ascending support and the $1,363 resistance. As long as buyers continue defending this structure, the bullish scenario remains interesting. However, losing the channel support could change the entire picture.
