Zcash Price Forecast: ZEC reclaims $1,300 as ETF inflow hits 30-day high

• Zcash hovers above $1,300 on Thursday after over 4% gains the previous day, marking its third consecutive daily bullish close.
• Grayscale’s ZEC-focused ETF recorded over $15 million in inflows on Wednesday, the highest in the last 30 days.
• Derivatives data suggests renewed retail demand, with Open Interest rising to its highest level since September 29 at $2.89 billion.

Zcash (ZEC) price hovers above $1,300 on Thursday, sustaining its 15% gains so far this week with three straight days of recovery. Institutional and retail appeal is returning, with over $15 million in inflows recorded on Wednesday and ZEC futures Open Interest (OI) rising to a 30-day high of $2.89 billion. The technical outlook for ZEC indicates an upside bias as recovery gains traction.

Zcash regains spotlight

Grayscale’s Zcash-focused Exchange Traded Fund (ETF) shows signs of renewed institutional appetite, nearly a month after the 3-for-1 stock split on September 28. SoSoValue data shows the ZEC ETF recorded $15.18 million on Wednesday, up from $1.61 million the previous day. The double-digit inflow hits a 30-day high after three straight weeks of net outflows.

On the retail side, Zcash derivatives are witnessing a steady increase in the notional value of all open contracts. According to CoinGlass, the ZEC futures Open Interest (OI) is at $2.89 billion, the highest since September 29 and up from $2.25 billion on Monday. Typically, an increase in OI indicates a rise in spot price or positional buildup. 

Taken together, the privacy coin’s appeal is returning at both institutional and retail scales nearly a month after Grayscale’s ETF stock split, implying further upside potential.  

Technical outlook: Will Zcash rally surpass $1,700?

Zcash trades at $1,309 at press time on Thursday, extending a steady recovery over the last three days. On the four-hour chart, the privacy coin maintains a constructive bullish bias as price holds well above the 50-period Exponential Moving Average (EMA) at $1,210 and the 200-period EMA at $1,235, indicating a firmly supported uptrend.

Momentum remains favorable on the same chart, with the Relative Strength Index (RSI) hovering near 64, suggesting strong but not yet extreme buying pressure, while the Moving Average Convergence Divergence (MACD) remains in positive territory, reinforcing the current upside tone.

The path of least resistance positions Zcash for further upside toward the $1,698 peak from September 26. A confirmed breakout above this zone could extend the rally to a new annual high and usher in a price-discovery phase.

On the downside, immediate support emerges around $1,300, with the 200-period EMA at $1,235 and the 50-period EMA at $1,210 forming a broader demand zone that could cushion deeper pullbacks within the prevailing uptrend.

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