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

• A gain of over 4% on Wednesday gave Zcash its third successive bullish daily close, with the price holding above $1,300 on Thursday.
• Wednesday brought over $15 million of inflows into Grayscale’s ZEC-focused ETF, its largest daily intake in the past 30 days.
• Open Interest has climbed to $2.89 billion, its highest since September 29, as derivatives figures point to a revival in retail demand.

A 15% advance so far this week leaves Zcash (ZEC) holding above $1,300 on Thursday, following three consecutive days of recovery. Interest from institutional and retail investors is picking up again: Wednesday’s inflows exceeded $15 million, while ZEC futures Open Interest (OI) reached a 30-day high of $2.89 billion. As the recovery gathers momentum, the technical picture continues to favour the upside.

Zcash returns to investors’ focus

Nearly a month after the 3-for-1 stock split on September 28, Grayscale’s Zcash-focused exchange-traded fund (ETF) is showing a revival in institutional demand. Figures from SoSoValue put Wednesday’s inflows into the ZEC ETF at $15.18 million, compared with $1.61 million a day earlier. Following three consecutive weeks of net outflows, this double-digit million-dollar intake marks a 30-day high.

Retail activity also points to a steady rise in the aggregate notional value of outstanding Zcash derivatives contracts. CoinGlass puts ZEC futures Open Interest (OI) at $2.89 billion, up from Monday’s $2.25 billion and the highest reading since September 29. Rising OI typically signals either an increase in the spot price or a build-up of positions. 

Together, these developments suggest that institutional and retail interest in the privacy coin is reviving nearly a month after Grayscale’s ETF stock split, pointing to scope for further gains.  

Technical outlook: Zcash rally targets a move beyond $1,700

At $1,309 at the time of writing on Thursday, Zcash is building on its steady recovery over the past three days. The four-hour chart retains a constructive bullish bias, with the privacy coin trading comfortably above both the 50-period Exponential Moving Average (EMA) at $1,210 and the 200-period EMA at $1,235. Those levels indicate firm support for the uptrend.

The same chart shows favourable momentum. A Relative Strength Index (RSI) reading near 64 points to strong buying pressure that has yet to become extreme, while the Moving Average Convergence Divergence (MACD) remains positive, lending further support to the bullish tone.

With the path of least resistance still upwards, Zcash is positioned to advance towards the September 26 peak of $1,698. Should a breakout above that area be confirmed, the rally could reach a fresh annual high and enter a phase of price discovery.

Should the price retreat, initial support lies around $1,300. Below that, a wider demand zone is defined by the 200-period EMA at $1,235 and the 50-period EMA at $1,210, potentially cushioning more pronounced pullbacks within the existing uptrend.

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