Zcash (ZEC) has surged over 20%, reaching approximately $283, with trading volume increasing by more than 47%. This rally has brought ZEC into a critical resistance zone between $370 and $400, a historically significant area that could determine the sustainability of the current uptrend. The cryptocurrency has reclaimed $350 as a support level, indicating strong market positioning. Open interest in ZEC has risen alongside the price, suggesting that new positions are being established rather than the move being driven solely by short covering. Despite the bullish momentum, funding rates remain deeply negative, indicating a market crowded with long positions. This setup poses a risk of a sharp pullback if momentum fades near the resistance. A decisive break above $400 could propel ZEC towards $450 to $480, while failure to break through might see it retreat to $350 or lower.