Zcash has one shot at $1,350 as ETF inflows return – Or it’s back to $1,040

Zcash [ZEC] is regaining some of the upward momentum it had before falling back into the $1,040 level and holding off multiple waves of selling. After peaking at around $1,700 in late September, the altcoin fell rapidly and has been stuck below $1,350 for almost three weeks. Although this week's bounce off the 19th of October lows near $1,040 brought the price up to $1,260. This indicates that there are once again buyers interested in purchasing. The RSI has also climbed to 64.67, supporting the recovery as momentum strengthens. Nevertheless, ZEC now will have to test the upper end of a resistance area near $1,300–$1,350. Previous rally attempts were met with heavy selling pressure in this area.

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