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