Zcash Price Forecast: Renewed ETF inflows struggle to counter broader market headwinds

• Zcash edges lower on Monday, trading around $1,200 and capped below the 200-period EMA at $1,226.
• Grayscale’s Zcash ETF recorded over $40 million in inflows last week, with four consecutive days of buying.
• The technical outlook for ZEC is mixed, as momentum remains neutral.

Zcash (ZEC) is trading in the red around $1,200 on Monday, maintaining a capped tone with losses of over 15% so far this month. Institutional risk appetite is returning for the privacy coin, with over $40 million in inflows last week. Zcash must surpass last week’s high of around $1,368 to sustain an upward trend. 

Grayscale’s Zcash ETF prints positive weekly inflow after three weeks

Grayscale’s ZEC-focused Exchange-Traded Fund (ETF) recorded four consecutive daily inflows last week, bringing the weekly total to $41.09 million. This marks the first positive inflow after three consecutive weekly outflows, suggesting that the institutional investors have renewed risk appetite for the privacy coin. 

ETF inflows return ahead of Network Upgrade 7 (NU7), scheduled for November 5, which will reduce block confirmation time to 25 seconds and disable the Sprout pool and its transactions.

Technical outlook: Will Zcash regain bullish strength?

Zcash hovers around $1,197 at press time on Monday, maintaining a bearish near-term tone. The privacy coin sits below both the 50-period Exponential Moving Average (EMA) at $1,207 and the 200-period EMA at $1,231 on the four-hour chart after retreating from the September 26 high of $1,698, suggesting upside attempts are likely to be capped for now.

Momentum is mixed on the four-hour chart, with the Relative Strength Index (RSI) hovering near a neutral 47 while the Moving Average Convergence Divergence (MACD) indicator holds slightly positive near the zero line, hinting at waning bearish pressure but not yet signaling a convincing recovery.

From a technical perspective, the overhead supply zone ranging from $1,296 to $1,385, capped recovery last week around $1,368, reinforced the restrained tone. To reestablish an upward trend, Zcash must surpass the 200-period EMA at $1,231 and the $1,268 peak from last week, which could open the path toward the $1,698 swing high.

On the downside, the immediate technical floor aligns with the September 4 high around $1,050, near the $1,000 psychological threshold.

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