Zcash price has struggled to find a clear direction over the past few weeks, despite being up over 600% in the 3-month window. The token is moving sideways even as other parts of the crypto market attempt small rebounds.
This comes despite fresh attention from a high-profile voice in crypto. In a recent interview, Arthur Hayes spoke positively about Zcash’s design.
Still, the ZEC price action shows hesitation despite the near 4% uptick, day-on-day. Traders are now weighing whether this support matters in the short term or if charts will decide first.
Arthur Hayes Said This About The Privacy Model
Arthur Hayes is the co-founder of BitMEX and a well-known crypto market figure. In a recent interview with Kyle Chasse, Hayes explained why his view on privacy coins has changed over time.
He said that while Monero was once seen as the strongest privacy option, new data and upgrades shifted his thinking. Hayes highlighted Zcash’s progress, particularly in shielded transactions and cryptographic improvements.
“That’s one of the reasons why I moved from the Monero camp into the Zcash camp when we talk about privacy coins,” he said, 30 minutes into interview.
What matters here is context. Hayes did not talk about Zcash price targets. He did not say buyers should rush in. His comments focused on technology and design, not market timing.
That distinction explains why the price has not reacted yet.
Why Zcash Price Has Not Reacted Yet
Despite the attention from Arthur Hayes, the Zcash price has not moved much. The reason is visible on the chart.
First, a bearish EMA crossover is forming. EMA means exponential moving average. It shows the average price but gives more weight to recent moves.
When the 20-day moves below the 50-day, it usually means short-term sellers are stronger than buyers. Right now, the 20-day EMA is very close to crossing below the 50-day. This keeps traders cautious.
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Bearish Cross Looms: TradingView
Second, on-balance volume (OBV) is not helping the price. OBV tracks whether volume is flowing in or out. Between December 12 and December 18, the Zcash price trended lower, and OBV also weakened. This indicates that buyers are not yet adding strength. Without a rising OBV, rallies often fail, and downside moves usually do not reverse.
Volume Support Lacks: TradingView
Put together, the picture is clear. The EMA crossover warns of short-term pressure. OBV shows weak follow-through from buyers. This explains why the Zcash price remains stuck and waits for a clear direction.
Arthur Hayes’ comments provide long-term confidence, but charts indicate that traders are waiting for technical evidence. Until buyers step in with volume, the price is likely to remain undecided.
What Could Decide the Next Zcash Price Move
Large capital flows provide the clearest clue. The CMF or Chaikin Money Flow indicator has been rising between December 11 and December 18, while the ZEC price corrected. This pattern means larger holders are showing interest even while the prices remain weak.
However, CMF is still below the zero line. That matters. A move above zero often confirms real buying. In past cases, like in early November, the price followed strongly once the CMF crossed that level.
ZEC CMF Rising: TradingView
For Zcash, the levels are clear. A clean daily close above $434 would show buyers are taking control again. If that happens, the next important zone sits near $516.
Zcash Price Analysis: TradingView
On the downside, $371 is the first key support. If the price slips below that level, sellers could push it toward $301, where previous buying interest appeared.
