Zcash Price Forecast: Why are renewed ETF inflows struggling to offset broader market headwinds?

• With the 200-period EMA at $1,226 limiting gains, Zcash trades near $1,200 on Monday, slightly lower on the day.
• Buying continued for four straight days in Grayscale’s Zcash ETF last week, taking inflows above $40 million.
• Neutral momentum leaves ZEC with a mixed technical outlook.

Zcash (ZEC) remains under pressure on Monday, trading near $1,200 with its upside constrained and losses exceeding 15% so far this month. In contrast, institutional appetite for risk is returning to the privacy coin, which attracted inflows of over $40 million last week. Sustaining an uptrend requires Zcash to move beyond last week’s high near $1,368. 

Does Grayscale’s Zcash ETF Inflow Signal Renewed Appetite After Three Weeks of Outflows?

Renewed institutional risk appetite for the privacy coin is suggested by last week’s inflows into Grayscale’s ZEC-focused exchange-traded fund (ETF). Four straight days of inflows took the weekly total to $41.09 million, ending a run of three consecutive weeks of net outflows. 

The resumption of ETF inflows comes ahead of Network Upgrade 7 (NU7), due on November 5. The upgrade will shorten block confirmation time to 25 seconds and disable both the Sprout pool and its transactions.

Technical outlook: Can Zcash recover its bullish momentum?

A bearish near-term bias persists as Zcash trades around $1,197 at the time of writing on Monday. Following its retreat from the September 26 high of $1,698, the privacy coin remains below the 50-period Exponential Moving Average (EMA) at $1,207 and the 200-period EMA at $1,231 on the four-hour chart. This positioning suggests that attempts to advance are likely to face resistance for now.

The four-hour momentum indicators offer a mixed picture. While the Relative Strength Index (RSI) sits near a neutral reading of 47, the Moving Average Convergence Divergence (MACD) indicator remains marginally positive close to the zero line. Together, these readings suggest easing bearish pressure, but do not yet point to a convincing recovery.

Last week’s recovery stalled near $1,368 within the overhead supply zone of $1,296 to $1,385, reinforcing the subdued technical picture. A renewed uptrend would require Zcash to clear the 200-period EMA at $1,231 and last week’s $1,268 peak. Such a move could pave the way towards the $1,698 swing high.

If prices weaken, initial technical support lies around $1,050, matching the September 4 high and sitting close to the psychological $1,000 level.

(An AI tool assisted in preparing the technical analysis for this story. Learn more.)