Zcash Price Forecast: Recovering ETF inflows struggle to offset wider market pressures

• $1,200 is Zcash’s approximate trading level on Monday. The coin is edging lower, with the 200-period EMA at $1,226 limiting gains.
• More than $40 million flowed into Grayscale’s Zcash ETF last week across four consecutive days of buying.
• Neutral momentum leaves ZEC with a mixed technical outlook.

$1,200 is where Zcash (ZEC) is trading on Monday. The coin remains in negative territory, with gains constrained and losses exceeding 15% so far this month. In contrast, institutional appetite for the privacy coin is recovering, as inflows topped $40 million last week. Sustaining an upward trend requires Zcash to clear last week’s high near $1,368. 

Three Weeks of Outflows End as Grayscale’s Zcash ETF Turns Positive

Following three consecutive weeks of outflows, Grayscale’s ZEC-focused exchange-traded fund (ETF) attracted $41.09 million last week. Inflows were recorded on four consecutive days, delivering the first positive weekly result since that run of withdrawals. This suggests renewed institutional risk appetite for the privacy coin. 

The return of ETF inflows comes before Network Upgrade 7 (NU7), scheduled for 5 November. The upgrade will cut block confirmation time to 25 seconds and disable both the Sprout pool and its transactions.

$1,231 EMA in Focus as Zcash Seeks Bullish Momentum

At approximately $1,197 at the time of writing on Monday, Zcash retains a bearish short-term bias. Following its retreat from the 26 September high of $1,698, the privacy coin is trading beneath the four-hour chart’s 50-period Exponential Moving Average (EMA) at $1,207 and 200-period EMA at $1,231. This positioning suggests recovery attempts are likely to face resistance for now.

The four-hour momentum indicators give mixed signals. Near a neutral 47, the Relative Strength Index (RSI) shows little directional conviction. The Moving Average Convergence Divergence (MACD) indicator remains marginally positive close to the zero line, suggesting selling pressure is easing without yet pointing to a convincing recovery.

Last week’s recovery stalled near $1,368 within the overhead supply zone of $1,296 to $1,385, reinforcing the subdued technical picture. A renewed uptrend requires Zcash to break above the 200-period EMA at $1,231 and last week’s $1,268 peak. Clearing those levels could pave the way towards the $1,698 swing high.

Initial 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.)