Zcash Price Surges to $688 Amid Market Developments

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

SOL-5.702%

ZEC-30.766%

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Zcash Price Surge: Zcash's price skyrocketed from $185 in February to $688 in May, driven by Multicoin Capital's large position disclosure and the launch of Gemini card rewards, reflecting strong market interest and confidence in the asset.
Cooling Market Signs: Despite the impressive rally, Zcash's price has eased back to around $540 after hitting $688, indicating a cooling market sentiment; a breakthrough above $928 could reignite upward momentum if resistance is cleared.
Solana Price Stability: Solana's price remains stable within the $66 to $70 support range, with sellers active above $80; market participants are looking forward to the June 16 summit for potential breakout confirmation, with a weekly close above $85.98 needed to establish a stronger bullish structure.
BlockDAG Casino Growth: BlockDAG Casino continues to drive on-chain activity with each wager, supported by a Legacy Sale price of $0.00000044 and a buyback program at $0.001, ensuring ongoing usage and economic growth while attracting more user participation.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL 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, SOL 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 $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	49.864	58.332	67.904	76.372	85.944	94.412	103.984
Fibonacci	58.332	65.223	69.481	76.372	83.263	87.521	94.412

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

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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