Zcash Price Surges, Targeting $900 After Bullish Pattern Confirmation

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 4 hours ago

ZEC-8.926%

CC-4.5699997%

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Price Surge: Zcash's price has surged over 110% in a month, briefly touching $682 on May 22 before retreating to the $600 support area, indicating strong market demand and investor confidence.
Regulatory Relief: The SEC's closure of its investigation into the Zcash Foundation has removed a long-standing compliance risk, further stimulating demand from institutional and retail investors for privacy-focused assets.
ETF Filing Catalyst: Grayscale's filing on May 12 to convert its Zcash Trust into a spot ETF marks ZEC's significant position among regulated spot ETF products in the U.S., attracting increased attention from institutional investors.
Supply Tightening: With over 30% of Zcash's circulating supply moving into privacy-focused shielded pools, the reduction in tradable supply has amplified price volatility, while analysts warn that current price levels may be overbought, necessitating caution for potential pullbacks.

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Technical Analysis for ZEC

Technical Sentiment Analysis for Zcash (ZEC). As of , Zcash (ZEC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ZEC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ZEC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Zcash (ZEC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	315.819	406.145	509.349	599.675	702.879	793.205	896.409
Fibonacci	406.145	480.073	525.746	599.675	673.603	719.276	793.205

About ZEC

Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.Contrary to a common misunderstanding, the majority of cryptocurrencies on the market, including Bitcoin (BTC), are not anonymous, but rather pseudonymous; while they do not explicitly reveal the identities of their users, each user has their own public address or addresses which can be traced back to them via the methods of data science and blockchain forensics.Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent. There is an option, however, to reveal this data for the purposes of auditing or regulatory compliance.Zcash was first released on October 28, 2016, and it was originally based on Bitcoin’s codebase.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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