ZEC's recent performance is worth关注. From the 1-hour K-line chart, the price successfully broke through the key resistance level of 523 and is currently stable above 523.00. Bollinger Bands data shows that the price is trading near the upper band of 523.01, indicating a bullish trend overall.

The MACD indicator also shows interesting signals—DIF line (0.09) crossing above the DEA line (2.29), forming a golden cross, with the energy histogram reaching 4.75 and continuing to expand. These technical features usually suggest that upward momentum is gathering.

However, from a technical perspective, what truly catches the eye is the change in on-chain data. Recently, ZEC's transfer activity has significantly increased, with clear signs of large fund inflows. This typically indicates that institutions and major holders are gradually building positions, rather than retail investors making scattered trades.

On the news front, the Zcash team is pushing forward with a technology upgrade project involving performance optimization and security enhancements. Such foundational improvements often get reflected in the market in advance. The crypto market's pricing logic works this way—anticipated developments tend to lag behind price increases.

Considering the three dimensions of technical patterns, on-chain activity, and upgrade expectations, ZEC is indeed in a position worth monitoring. Of course, any investment decision should be based on your own risk assessment.