The post Why Zcash (ZEC) Price is Up Today? appeared first on Coinpedia Fintech News
Zcash (ZEC), one of the earliest pioneers in the privacy coin sector, is showing strong momentum after weeks of consistent upward movement. Long known for its anonymity and security features powered by zero-knowledge proofs, Zcash is once again gaining traction as market sentiment shifts toward privacy-focused cryptocurrencies.
ZEC price rallied more than 113%, briefly touching $139 after consolidating in the $16–$20 range earlier this year. This sharp rebound has positioned Zcash as one of the standout performers in the crypto sector.
Why Is Zcash (ZEC) Price Surging Today?
Several factors are contributing to ZEC’s renewed strength:
- Growing demand for privacy: In an era of heightened surveillance, data breaches, and financial transparency, investors are showing renewed interest in privacy coins.
- Ongoing network upgrades: Improvements in scalability, security, and shielded transaction capabilities continue to enhance Zcash’s appeal.
- Institutional curiosity: Enterprises are increasingly seeking privacy-preserving tools, and ZEC’s reputation makes it a strong candidate for adoption.
- Overall market recovery: The broader rebound in the crypto market has lifted altcoins, with Zcash benefiting from renewed investor confidence.
Adding fuel to the rally, Zcash recently broke an 8-year downtrend in its ZEC/BTC pair on September 29, while the launch of Zashi App’s CrossPay (Sept 16) enabled shielded transfers across 20+ blockchains. Spot trading volume surged 1,150% to $292 million, while shielded transactions rose 15.5% month-on-month.
ZEC Price Analysis: Short-Term Outlook
On the weekly chart, Zcash is consolidating in what analysts view as a healthy range following its breakout. Market watchers have compared its structure to XRP’s historical “cup and handle” formation, with potential long-term targets at $350–$450.
In the short term, however, caution is warranted. After rallying 167% since August, ZEC may retest support around $75–$60 before resuming its uptrend. Traders are closely monitoring the $400 level, which aligns with Fibonacci resistance near $374.
Breaking through $400 could open the door to much higher levels, with Fibonacci extensions suggesting long-term targets as high as $2,500–$10,500.
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Zcash Price Prediction for 2025: Can ZEC Price Reach $400?
The big question for investors is whether Zcash can sustain momentum and break the $400 milestone in 2025. Several factors support this bullish case:
- Strong technological fundamentals in zero-knowledge proof privacy.
- Relatively low market cap compared to Bitcoin and Ethereum, leaving room for growth.
- Positive sentiment toward privacy-focused cryptocurrencies amid growing regulatory oversight.
- Potential institutional adoption, especially for compliance-friendly private transactions.
If bullish momentum continues, the ZEC price can hit $350–$450. Extreme long-term Fibonacci projections even suggest the possibility of $2,500–$10,500, though such numbers remain highly speculative.
Is Zcash Worth Buying Now?
For long-term believers in privacy, ZEC’s capped supply of 21 million coins and shielded transaction features make it a unique hedge. As investor and entrepreneur,
Naval Ravikant Said: “Bitcoin is insurance against fiat. Zcash is insurance against Bitcoin.”
However, there are risks:
- High volatility makes sharp corrections likely.
- Regulatory scrutiny remains a challenge for privacy coins.
- Competition from Monero (XMR) and other privacy projects could limit upside.
Given its recent rally, Zcash may extend in the short term. A pullback to lower support levels could present a better entry point for long-term accumulation.
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FAQs
ZEC price is up due to strong buying momentum, surging trading volume, and growing demand for privacy coins after breaking long-term resistance levels.
You can buy Zcash on major crypto exchanges by creating an account, verifying your ID, funding it, and purchasing ZEC through spot or trading pairs.
Forecasts suggest Zcash could reach $350–$450 in 2025 if bullish momentum holds. Extreme projections point higher but remain speculative.
Zcash was founded in 2016 by computer scientist Zooko Wilcox-O’Hearn, who played a key role in developing its privacy-focused zero-knowledge proof technology.
The post Why Zcash (ZEC) Price is Up Today? appeared first on Coinpedia.org.
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