Zcash (ZEC) is once again attracting attention after a strong rally that delivered more than 70% gains from the previously identified entry zone. Analyst Crypto Patel stated that the structure was built as anticipated. There was a smooth Zcash price movement from the support at CISD to higher levels of liquidity. This occurred following a bullish reversal in the market structure.
Based on the Zcash price analysis, it remains bullish on the 4H chart despite experiencing a retracement. Having been sideways for several weeks, ranging from $300 to $375, buyers regained momentum by taking advantage of the 1D Breakaway Gap towards $600.
This shift in sentiment is now considered an expansion instead of an accumulation phase, as the current retracement happens around the $500 weekly order block.
Source: X
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Key Support Levels Become Critical for Next Move in Zcash Price
There are several key levels of support that are currently shaping the direction of the next step in the Zcash price. Initial support comes close to the price levels of $481, followed by $449 and $404.
The major level of demand continues to remain within the boundaries of $375-$405, where buyers joined in at the time of the breakout. As long as the Zcash price manages to trade within this wider area, the bullish bias remains intact.
Based on the chart of the Zcash price, it is expected to reach a level around $760-$770 after surpassing the $520 level of resistance.
In case the price drops below the $481 and $449 levels with significant sell-offs, there may be a retracement before the price resumes its upward trend.
Privacy Narrative Pushes ZEC Back Into Spotlight
Meanwhile, expert David Hoffman has identified a long-term trend emerging around Zcash and financial privacy. Specifically, the expert mentioned how ZEC rocketed by 1,200%, rising from $56 to $700 in merely 41 days during its previous strong run.
The asset, which had been dormant for years, has surged by 160% in the last month. The discussion around ZEC is more concerned about privacy, large investments, and quantum resistance.
According to Hoffman, the institutional adoption of Bitcoin has diluted its cypherpunk ethos, but Zcash remains dedicated to its privacy-oriented design.
According to the expert, increased discussions around the world concerning wealth taxes, capital controls, and money laundering regulations have made individuals become more concerned about privacy-oriented assets.
While Monero is completely private, Zcash employs a dual privacy approach, where certain transactions are observable, whereas others remain hidden.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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