Zcash Surges Over 23% Following Chart Pattern Breakout

Zcash experienced a significant price increase of 23.11% after breaking out of an inverse head and shoulders pattern on the 12-hour chart. According to NS3.AI, this movement allowed Zcash to reach its measured move target. Concurrently, open interest in Zcash climbed by 61% to $399.18 million, while funding rates decreased to -0.05%, indicating aggressive bearish positioning in the derivatives market.