Zcash Price Forecast: Renewed ETF inflows offer limited relief from wider market headwinds

• With the 200-period EMA at $1,226 limiting gains, Zcash slips towards $1,200 on Monday.
• More than $40 million flowed into Grayscale’s Zcash ETF last week, as buying continued for four successive days.
• Neutral momentum leaves ZEC with a mixed technical outlook.

Losses of over 15% so far this month leave Zcash (ZEC) under pressure, with the coin trading lower at around $1,200 on Monday. Inflows exceeding $40 million last week point to returning institutional risk appetite for the privacy coin. A sustained uptrend requires Zcash to clear last week’s high of around $1,368. 

Grayscale’s Zcash ETF returns to weekly inflows after three weeks of outflows

A total of $41.09 million entered Grayscale’s ZEC-focused exchange-traded fund (ETF) last week, with inflows recorded on four consecutive days. Following three straight weeks of outflows, the return to positive weekly flows suggests renewed institutional appetite for risk exposure to the privacy coin. 

The renewed ETF inflows precede Network Upgrade 7 (NU7). Scheduled for 5 November, the upgrade will cut block confirmation time to 25 seconds and disable the Sprout pool along with its transactions.

Technical outlook: Zcash remains short of a bullish recovery

Below its 50-period Exponential Moving Average (EMA) of $1,207 and 200-period EMA of $1,231 on the four-hour chart, Zcash retains a bearish near-term bias. The privacy coin trades at around $1,197 at the time of writing on Monday. Its retreat from the 26 September high of $1,698 leaves attempts to advance likely to face resistance for now.

The four-hour momentum indicators offer mixed signals. While the Relative Strength Index (RSI) stands near a neutral 47, the Moving Average Convergence Divergence (MACD) indicator remains marginally positive close to the zero line. Together, they suggest selling pressure is easing, but do not yet point to a convincing recovery.

Last week’s recovery stalled around $1,368 within the overhead supply zone of $1,296 to $1,385, reinforcing the subdued technical picture. Restoring an uptrend requires a break above the 200-period EMA at $1,231 and last week’s peak of $1,268. Such a move could clear the way towards the $1,698 swing high.

Immediate technical support lies around $1,050, corresponding to the 4 September high and close to the psychological $1,000 level.

(The technical analysis of this story was written with the help of an AI tool. Know more.)