Zcash climbed more than 10% to around $250 on Tuesday, outperforming a volatile crypto market weighed down by escalating geopolitical tensions linked to the Iran conflict.
The move marks a rebound from roughly $225 earlier in the session, with ZEC holding gains even as broader risk sentiment remains fragile.
Momentum indicators are supporting the advance, with the Relative Strength Index above neutral and the Moving Average Convergence Divergence signalling a clear bullish shift.
However, derivatives data shows weakening participation, with futures Open Interest falling to $358 million from $364 million, indicating subdued retail engagement.
Low Open Interest suggests traders are hesitant to increase exposure, raising the risk that the rally may lack conviction and struggle to extend further.
Technically, Zcash has pushed above its 50-day exponential moving average near $249, while the 100-day and 200-day averages around $281 and $275 continue to cap the broader trend.
A sustained break above these resistance levels could open the path toward $290, while failure to hold support near $249 may expose downside levels at $235 and $225.
At the time of reporting, Zcash price was $248.42.