ZEC has shown several noteworthy movements on the recent 1-hour chart. The latest close is around 523.00, firmly above the upper band of the Bollinger Bands (UB: 523.01). From the Bollinger Band shape, it appears to be gradually opening up from a previous tightening phase, which often signals an imminent directional choice. The strong price performance indicates that this breakout is likely to be upward.

Looking at the MACD momentum indicator, although the DEA line remains high at 2.29, the DIF line has turned upward to 0.09, and the green momentum bars are beginning to appear. This combination often suggests that the previous downward momentum has waned, and the bulls are re-accumulating strength. According to common interpretation, the main force's shakeout phase may have concluded, and a price rally could be imminent.

On-chain activity is also quite interesting. Over the past 24 hours, large transfers of ZEC have surged by over 30%. More notably, some whale addresses that have been dormant for months have suddenly become active, continuously absorbing chips. This behavior pattern is usually not characteristic of retail investors but more resembles large capital quietly building positions. From the flow of chips, the transfer is from weaker hands to stronger hands, and the support base at the bottom is quite solid. Why are major players choosing to act at this moment? It may be related to upcoming news developments.

According to information sources, the core development team of Zcash is expected to announce the roadmap for the next phase of ecological expansion in mid-January, with the implementation of enterprise-level privacy payment protocols as a key focus. Some top venture capital research reports have already started to generate momentum, hinting that this could be a significant upgrade capable of reshaping ZEC's valuation framework. The market often reacts in advance to such expectations, and the current price movements are likely driven by informed capital acting ahead.

Combining technical signals, on-chain data, and news factors, ZEC's breakout on the hourly level has been preliminarily confirmed. If the price can stabilize above 520 (the original upper Bollinger Band), the upward channel is likely to be officially initiated. In the short term, the previous high around 535 is a reasonable target, and the medium-term upside potential could be even more substantial.