Analysts: ZEC is approaching a key resistance zone that triggered a sharp correction last November.

CoinFeed reported on May 23 that crypto analyst Ali stated on the X platform that the privacy-focused crypto project Zcash (ZEC) has seen a cumulative increase of over 40% in the past week, with its current price approaching the key resistance zone of $700-$730, which triggered a significant pullback last November. Ali emphasized that if ZEC effectively breaks through and holds above this range, its upside potential will further expand; conversely, if it encounters strong selling pressure, it may repeat the previous pattern of a surge followed by a decline.