Zcash (ZEC) Price Rally to 60-Day High May Be Short-Lived Due to Key Factors

Key Takeaways

• Zcash (ZEC) bounced at the long-term $33 support.
• ZEC trades inside an ascending parallel channel.
• Can ZEC sustain its short-term rally and breakout?
• Interested in buying or selling ZCASH (ZEC) coins? Read our review of the best exchanges to buy and sell ZCASH (ZEC) coins.

Zcash was once one of the leading privacy coins alongside Monero. However, years of decline have pushed it outside the top 100 largest cryptocurrencies.

2025 started on a bearish note for ZEC, as the price fell over 55%. However, a rally started in February, leading to a higher low and breakout in March.

Some positive news occurred last week, such as the Near & Zcash Hackathon and the successful audit of Zcash and Keystone.

With ZEC approaching the $50 level, the key question is if it can sustain its increase or if the rally will fail like the others.

ZEC Bounces at Support

The ZEC price has fallen significantly since its cycle high of $79.77 in December 2024.  The downward movement led to a low of $25, briefly causing a breakdown from the $33 horizontal support area.

$33 is a critical area since it had previously acted as resistance since July 2023 and was likely to provide support.

Zcash’z price bounced, creating a double bottom pattern (green icons) and reclaiming the support area.

Technical indicators are at make-or-break levels. The Relative Strength Index (RSI) is 50, while the Moving Average Convergence/Divergence (MACD) is 0 (black circles).

The latter is close to making a bullish cross, a sign of a trend reversal. So, immediate price action will be critical for future trends.

Let’s look at the short-term movement and see what lies ahead.

ZEC Price Breakout

The daily time frame analysis shows that ZEC broke out from a descending resistance trend line (dashed) on Feb. 13

Zcash’s breakout comes after a completed A-B-C corrective structure (red).  The bullish divergences in the RSI further legitimize the price breakout.

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However, the fact that ZEC trades inside an ascending parallel channel suggests the breakout is corrective.

ZEC is approaching a critical resistance at $45.63, created by the pattern and the 0.382 Fibonacci retracement resistance.

The six-hour chart indicates that the rally is corrective. It shows an A-B-C structure (green), with waves A and C having nearly the same length.

The sub-wave count is black, suggesting the ZEC price rally is nearing or has already ended.

So, the most likely ZEC prediction is an increase to a maximum of $45.63. A trend reversal toward the channel’s support at $32 could then happen.

Rally Will Not Last

The ZEC price showed impressive strength by bouncing at the $33 horizontal support area and breaking out from a descending resistance trend line.

However, the increase could be corrective, ending at a maximum of $45 and leading to a significant bearish trend reversal afterward.