Key Technical Levels to Watch: Zcash (ZEC) Targets $1,698 while Hyperliquid (HYPE) Tests Support

Technical traders are closely tracking critical price structures across major altcoins this week, with Zcash (ZEC) and Hyperliquid (HYPE) establishing decisive support and resistance boundaries. Both assets are displaying setups that could dictate trading strategies over the coming sessions.

Zcash is currently consolidating near $1,300 after demonstrating impressive relative strength across the crypto space. The immediate zone of interest for bullish traders sits at $1,340. A convincing breakout above $1,340, backed by solid trading volume, would validate the bullish technical pattern driven by the NU7 network upgrade, opening the door for an extended target reaching towards $1,698. On the flip side, should selling pressure mount—potentially amplified by ongoing Grayscale ZEC ETF outflows—traders should monitor primary support levels at $1,216 and secondary structural support at $1,112.

Meanwhile, Hyperliquid (HYPE) is navigating a minor correction phase, sliding 4% to trade near $78. This pullback comes on the heels of $5 million in profit-taking by four prominent whale accounts tracked by Santiment. From a technical perspective, holding the $75–$78 region is vital for HYPE to maintain its broader bullish market structure. A stabilization above this support zone would allow the market to absorb heavy sell-side liquidity while traders digest positive fundamental news, such as Hyperliquid Strategies' application for US FCM registration.

Investors and active traders should maintain disciplined risk management around these defined technical levels, paying close attention to volume confirmation on breakouts and potential retests of support.

This article does not constitute investment advice. The content provided here is solely for informational purposes and reflects the results generated by TradeitKN's AI analysis system. Before making any financial decisions, you should conduct your own research or consult with a licensed financial advisor.