Zcash traders pulled $17 million off exchanges on Dec. 13 following a sharp pullback, signaling potential accumulation despite a cooling rally that pushed prices up more than 700% over three months. The privacy-focused cryptocurrency now trades within a tightening triangle pattern as buyers and sellers test key support levels. Exchange outflows surged one day after $14.26 million in coins moved onto trading platforms, suggesting spot buyers stepped in during the retreat.
What Happened: Accumulation Signal
The Zcash price hit resistance last week before entering consolidation mode, pulling back roughly 2.5% over 24 hours while maintaining a 20% weekly gain.
Spot inflows reached approximately $14.26 million on Dec. 12, indicating potential selling pressure. By Dec. 13, that reversed sharply to around $17.34 million in net outflows as coins moved off exchanges.
A similar volume slowdown occurred after Oct. 17, when buying pressure weakened before Zcash rallied more than 300%.
The cryptocurrency continues respecting its rising trend line that has guided the uptrend this cycle, with the triangle pattern reflecting indecision rather than structural weakness.
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Why It Matters: Market Structure
Exchange outflows typically reduce immediate sell pressure and often signal accumulation during pullbacks rather than distribution into strength.
The price needs to break above $511 for bullish continuation, representing a 24% move from current levels that would confirm renewed buyer control. First upside targets sit near $549 and $733, with higher resistance zones at $850 and $1,190 requiring sustained momentum.
Downside risk centers on the $430 level, where a break would weaken the triangle structure. Strong support exists near $391, with deeper breakdown potential to $301 if broader market pressure intensifies.
The consolidation follows a three-month surge exceeding 700%, suggesting the trend remains intact despite the pause.
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