Zcash Extends Rally as $680 Channel Target Returns

Zcash extended its recovery toward $580 on Thursday, moving closer to the upper boundary of a long-running price channel after holding its mid-range support earlier this month.

ZEC traded near $565, up about 1.5% over 24 hours and nearly 24% across seven days. The token moved between roughly $519 and $581 during the latest session, with daily trading volume near $540 million and market capitalization around $9.5 billion.

Crypto analyst Ali Martinez placed the next major resistance at $675 to $680, where the ascending channel’s upper boundary intersects the current trend. The level represents a possible technical target if buying momentum continues, not a confirmed price forecast.

The latest push has already carried ZEC through several resistance areas that capped its June recovery. Buyers reclaimed $475 to $485, moved above $520 and briefly tested $580 as the token outperformed the broader crypto market.

Mid-Channel Bounce Produces 35% Advance

The move follows Martinez’s earlier setup showing that ZEC had successfully bounced from the channel midpoint. Zcash traded near $419 when that bounce was covered on July 5, placing the latest price roughly 35% above the mid-range support test.

That earlier Zcash price analysis identified $680 as the upper-channel objective while treating the midpoint as the level separating continuation from a deeper breakdown. ZEC remained above that support through the following pullbacks before accelerating above $500.

The $580 to $600 area now sits between spot price and Martinez’s channel target. ZEC reached a 24-hour high above $580 but had not established a sustained break through that zone during the latest market check.

A move to $675 would represent an advance of about 19% from $565. The target also sits immediately below the $700 to $730 rejection band that stopped ZEC’s May rally and triggered heavy profit-taking.

Ironwood Activation Supports Recovery Trade

ZEC’s price recovery has tracked preparations for Ironwood, the network upgrade designed to introduce a new shielded pool and restore independently verifiable supply controls after the Orchard vulnerability disclosed in June.