Zcash Price Forecast: What next as ZEC regains $1,300 and ETF inflow reaches 30-day high?

• Zcash holds above $1,300 on Thursday, supported by a gain of over 4% in the previous session that delivered its third successive bullish daily close.
• Institutional demand strengthened on Wednesday as Grayscale’s ZEC-focused ETF attracted over $15 million, its largest inflow in the last 30 days.
• Renewed retail interest is suggested by derivatives data, with Open Interest climbing to $2.89 billion, a level last seen on September 29.

A recovery in institutional and retail interest is supporting Zcash (ZEC), which remains above $1,300 on Thursday after three consecutive days of gains, retaining its 15% advance so far this week. Inflows exceeded $15 million on Wednesday, while ZEC futures Open Interest (OI) reached a 30-day high of $2.89 billion. As the recovery gathers pace, the technical outlook continues to favour the upside.

Is Zcash returning to the spotlight?

Institutional interest appears to be reviving in Grayscale’s Zcash-focused Exchange Traded Fund (ETF), nearly a month after its 3-for-1 stock split on September 28. According to SoSoValue data, Wednesday’s inflows into the ZEC ETF totalled $15.18 million, compared with $1.61 million a day earlier. Following three consecutive weeks of net outflows, this double-digit inflow marks a 30-day high.

Retail participation also shows signs of strengthening, with the notional value of all open Zcash derivatives contracts rising steadily. CoinGlass puts ZEC futures Open Interest (OI) at $2.89 billion, up from $2.25 billion on Monday and its highest reading since September 29. Rising OI typically points to an increase in the spot price or a build-up of positions. 

Together, these trends suggest that the privacy coin is regaining traction among institutional and retail participants nearly a month after Grayscale’s ETF stock split, pointing to scope for further gains.  

Technical outlook: Can Zcash extend its rally beyond $1,700?

The bullish technical picture remains intact as Zcash trades at $1,309 at press time on Thursday, building on a steady three-day recovery. On the four-hour chart, the price remains comfortably above both the 50-period Exponential Moving Average (EMA) at $1,210 and the 200-period EMA at $1,235. This positioning suggests that the uptrend has firm support.

Indicators on the same chart also favour further gains. Near 64, the Relative Strength Index (RSI) points to robust buying pressure that has yet to reach extreme levels. Meanwhile, the Moving Average Convergence Divergence (MACD) holds in positive territory, lending further support to the bullish tone.

With the path of least resistance still pointing higher, Zcash could advance towards its September 26 peak of $1,698. Should a breakout above this zone be confirmed, the rally could reach a new annual high and enter a price-discovery phase.

Any decline would encounter immediate support near $1,300. Below that, a wider demand zone comprises the 200-period EMA at $1,235 and the 50-period EMA at $1,210, potentially cushioning deeper corrections within the ongoing uptrend.

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