Zcash rises 6% in two days, faces resistance at $1,320 after Grayscale outflows

Zcash (ZEC) gained 2% on Wednesday, extending the previous day’s 4% rally and recovering much of Monday’s losses. The privacy-focused cryptocurrency traded near $1,264 as buyers attempted to surpass nearby resistance levels, yet persistent outflows from Grayscale’s ZCSH fund continued to create uncertainty for demand. Grayscale, a major digital asset management company known for its crypto investment products, recorded $5.19 million in net outflows from its ZCSH fund on Tuesday. The fund, which offers institutional exposure to Zcash, also saw $1.66 million withdrawn on Monday and a total of $30.72 million in redemptions over the previous week.

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