Over the past week, ZCash has seen remarkable progress, with the price of ZEC surging over 45%, reaching $344.32 today. This surge is not random. A mix of growing confidence in privacy technology, where 4.5 million ZEC coins now reside in protected pools, reflects strong market confidence.
In addition to this, technical signals such as a rising RSI and a bullish MACD crossover show healthy momentum underway. Additionally, as recent Federal Reserve actions have sparked volatility elsewhere, traders have found refuge in hot coins like ZCash and Monero. All of these have pushed the price higher, making this a critical time to closely monitor what ZEC might do next.
ZEC Price Analysis
Looking closely at the ZEC price chart, the bullish momentum is clear. Over the past day, volume exceeded $731 million, a 10% increase that took prices from a low of $312.77 to a high of just above $361. The RSI reading at 71.83 suggests that ZCash is in overbought territory. Successively, the MACD presents a bullish crossover, strengthening the bullish trend signal.
If current momentum continues, ZCash price may soon test upper resistance zones near $370 to $400. However, any pullback towards the support levels around $322 and $249 should be viewed as an opportunity rather than a threat in this bullish phase.
FAQs
This rise is fueled by a mix of growing trust in privacy technology and more coins in protected pools. Plus bullish technical signals and market rotation into privacy coins after Fed volatility.
Technical indicators such as the RSI and MACD suggest strength, but potential pullbacks near support levels could occur, providing chances to enter the market before further recovery.
An increase in shielded supply shows greater confidence in privacy features, which generally support higher prices through long-term demand and adoption.
Trust CoinPedia:
CoinPedia has been providing accurate and timely updates on cryptocurrencies and blockchain since 2017. All content is created by our expert panel of analysts and journalists, following strict editorial guidelines based on EEAT (Experience, Expertise, Authority, Trustworthiness). Each article is checked against reputable sources to ensure accuracy, transparency and reliability. Our review policy ensures unbiased reviews when recommending exchanges, platforms or tools. We strive to provide timely updates on everything crypto and blockchain related, from startups to industry majors.
Investment Disclaimer:
All opinions and ideas shared represent the author’s own views on current market conditions. Please do your own research before making any investment decisions. Neither the writer nor the publication takes responsibility for your financial choices.
Sponsored and advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are clearly marked and our editorial content remains entirely independent from our advertising partners.
