Here’s why Zcash price rallied over 10% today
Zcash price rallied nearly 12% on Friday, continuing its recent uptrend as buying interest picked up again after a brief pullback earlier this week. According to data from crypto.news, Zcash (ZEC) rose to an intraday high close to $360 before…
Zcash price rallied nearly 12% on Friday, continuing its recent uptrend as buying interest picked up again after a brief pullback earlier this week.
- Zcash price climbed nearly 12% to around $360, rebounding from $300 support as buying interest returned.
- Rising demand for privacy coins and increased shielded pool usage helped strengthen investor sentiment.
- Technicals show bullish momentum, with price testing $350 resistance and eyeing a move toward $400.
According to data from crypto.news, Zcash (ZEC) rose to an intraday high close to $360 before easing slightly to trade around $350 at the time of writing. The move comes after the token found support near the $300 level, where buyers stepped in to defend the downside.
The latest rally appears to be driven by a mix of fresh demand and improving technical structure. After holding key support zones during its recent dip, Zcash has started to attract traders looking to position for a continuation move higher.
A key factor behind the renewed interest is the steady demand for privacy-focused cryptocurrencies. With growing attention on blockchain transparency and regulation, some investors are rotating into assets that offer stronger transaction confidentiality, which has helped lift sentiment around Zcash.
At the same time, activity within Zcash’s shielded ecosystem continues to support its outlook. The increasing share of coins held in shielded pools has effectively reduced liquid supply, which can amplify price moves when demand rises.
The token is also tracking the broader market recovery, with improving sentiment across crypto helping altcoins regain momentum after recent volatility.
If the current trend holds, traders will be watching whether Zcash can push toward the $400 level, which remains a key psychological barrier.
Zcash price analysis
On the daily chart, Zcash price has bounced from the 50% Fibonacci retracement level near $293, confirming it as a strong support zone.
It is now testing resistance around the 78.6% Fibonacci level near $350. A clean break above this level could see the price move back toward the recent high near $390.
The Supertrend indicator has stayed in bullish territory, suggesting the uptrend remains intact. Meanwhile, the RSI is sitting around 64, showing steady buying pressure without signs of extreme overheating.
On the downside, a drop below the $316 level, which aligns with the 0.618 Fibonacci support, could lead to a pullback toward the $293 zone.