Zcash (ZEC) Surges 31.8% in 24-Hour Trading, Ranks Third on CoinGecko
- Volume Surge: Zcash (ZEC) recorded a trading volume of $1.66 billion in 24 hours, with a market cap of $9.47 billion, indicating strong speculative interest as the volume-to-market-cap ratio stands at approximately 17.5%, reflecting active trading behavior among investors.
- Price Increase: ZEC's price was approximately $567.37 at the time of the scan, marking a 31.8% increase from the previous day, which highlights a resurgence in market demand for privacy coins, particularly after facing regulatory challenges.
- Privacy Coin Mechanics: Zcash employs zero-knowledge proofs to enable fully encrypted transactions on a public blockchain, allowing users to choose between transparent and shielded addresses, which differentiates it from most other top-20 assets and attracts investors seeking privacy in transactions.
- Competitive Landscape: Firo (FIRO) also saw a 20.8% increase during the same period, suggesting a shared demand catalyst in the privacy coin market, despite FIRO's market cap being only $21.4 million, indicating a growing interest in privacy-focused cryptocurrencies.
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Technical Analysis for ZEC
Technical Sentiment Analysis for Zcash (ZEC). As of , Zcash (ZEC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 3 indicators are flashing buy, while 5 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 | 4.206 | 164.373 | 322.666 | 482.833 | 641.126 | 801.293 | 959.586 |
| Fibonacci | 164.373 | 286.025 | 361.181 | 482.833 | 604.485 | 679.641 | 801.293 |
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