Interestingly, ZEC’s rally appears to be an outlier among privacy coins, as its peers, such as Monero (XMR), have barely moved.
With prices now pressing against the final resistance zone before its all-time high, traders are watching closely to see if Zcash can finally break into new territory.
Weekly ZEC Price Chart
The weekly time frame chart shows that the Zcash price has traded inside a horizontal range between $25 and $300 since the start of 2020.
Most of this time, ZEC traded close to the range low of $25, even briefly crashing below it in July 2024 (black circle).
However, the movement since has been nothing short of spectacular, with ZEC surging by a massive 2,,200% to a high of $374.
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Today’s ZEC price high of $374 is significant, as it surpassed the previous cycle high of $372, marking the highest price since the start of 2018.
More importantly, ZEC has closed above its range high for the first time, so it will finally confirm the breakout if it sustains its upward movement.
In that case, the Zcash price prediction will be bullish, with the price likely to continue its parabolic ascent to new highs.
Momentum indicators are bullish but show overbought conditions. This is especially evident in the Relative Strength Index (RSI), which has recorded its highest readings since 2018.
The Moving Average Convergence/Divergence (MACD) shows the same thing. Nevertheless, the lack of a bearish divergence in either gives hope that the upward movement can continue.
ZEC’s outlook remains bullish, but the coin’s steep climb and flashing indicators suggest that the rally may be losing momentum.
Why is ZEC Going Up?
Since its inception, the ZEC price history chart shows that it traded within the final resistance area before reaching its all-time high.
Today, the ZEC price trades inside the $360 resistance area, above which it has not closed since 2018.
Additionally, the price broke out from its long-term resistance, which has been in place since the inception.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
