Zcash (ZEC) is currently trading near $225, having been in a downtrend since December of last year, with a year-to-date decline of 55%. A bullish divergence is forming on the daily chart, similar to the pattern that preceded a 43% rally earlier this quarter. Key resistance is near the top of the channel, approaching $280; a break above this resistance could point toward $400, while failure to hold the $184 support level would invalidate the bullish outlook. Meanwhile, traders are shifting capital toward emerging Bitcoin Layer 2 projects, such as Bitcoin Hyper ($HYPER), which has raised $32 million and offers sub-second finality.