The broader cryptocurrency market has shifted into recovery mode, with selective altcoins like Zcash (ZEC) and Hedera (HBAR) leading the charge with double-digit gains. This rally comes after a period of market-wide pressure, signaling a potential rotation of capital into tokens with specific technical and fundamental catalysts.
Zcash (ZEC) has posted one of the strongest single-day recoveries, surging 22% to 24.36% in the past 24 hours. The rally originated from a key support zone between $184 and $220, which aligns with a critical Fibonacci retracement level and a historical accumulation area. This bounce has propelled ZEC toward the $280–$300 resistance cluster. A daily close above $300 could open the path toward the $330–$350 range, while failure to hold above $260 might indicate a short-lived squeeze. The move is supported by a 71% spike in daily trading volume, reaching $491.38 million, though some on-chain indicators like the A/D volume remain flat, suggesting demand needs to strengthen for a sustained trend.
Meanwhile, Hedera (HBAR) is rallying on a significant enterprise development. FedEx Corp has officially joined the Hedera Governing Council, planning to leverage Hedera's distributed ledger technology for global supply chain tracking. This partnership boosts Hedera's institutional credibility and enterprise blockchain narrative. Technically, HBAR price has rebounded from the lower boundary of its multi-month descending channel, with a 10% surge pushing it toward resistance near $0.10–$0.11. A breakout above $0.14 could target the $0.18-$0.20 zone.
The market outlook suggests these are not merely sentiment-driven relief rallies. ZEC is attempting a technical transition from accumulation to expansion, while HBAR is fueled by a concrete partnership. Their outperformance indicates selective capital rotation. The sustainability of these rallies will depend on their ability to convert key resistance levels into support in the coming sessions.
