Zcash and Monero Rise as Bitcoin Trading Stalls
Zcash and Monero were the strongest performers among major cryptocurrencies over 24 hours, while the broader market remained largely flat. Bitcoin rose 0.59% to $86,264 and Ethereum gained 0.34% to $2,714. Solana increased 1.4% and XRP advanced 1.07%, while BNB and Tron declined slightly.
Zcash gained about 3% to roughly $1,373, and Monero rose 2.14% to $562.32. Both privacy coins remain below their September peaks. Zcash is about 19% below its $1,698 high, while Monero is around 11% below its $632.86 peak. Technical indicators suggest consolidation rather than a confirmed breakout.
Zcash faces resistance near $1,403.89, with support around $1,221.93. Monero needs to hold above $558.69. Bitcoin’s key resistance is near $87,354, despite a recent golden cross involving its 100-day and 200-day exponential moving averages.
Macro uncertainty is limiting risk appetite. The Federal Reserve recently raised interest rates to 3.75%-4.00%, while a weaker-than-expected September payrolls report reduced expectations of another rate hike. The conflicting signals have left crypto markets directionless.
Zcash’s longer-term performance remains strong, with gains of about 2,500% over 12 months. However, Grayscale’s Zcash ETF recorded $30.25 million in outflows on 30 September, although cumulative net inflows since its 25 August launch remain near $268 million.
Neutral
The near-term market impact is neutral. Zcash and Monero are outperforming, but both remain below important September highs and their charts indicate consolidation rather than a confirmed trend reversal. Zcash’s ETF has attracted substantial cumulative inflows, which supports the longer-term narrative, but the latest $30.25 million outflow shows that institutional demand can fluctuate sharply.
Bitcoin’s recent golden cross is technically constructive, yet price remains below the $87,354 resistance level. A breakout could improve sentiment across major cryptocurrencies, while failure to clear resistance may encourage further range trading. The broader market is also being restrained by mixed macro signals: tighter Federal Reserve policy is negative for risk assets, but weak employment data has reduced expectations of another rate increase. Similar periods of conflicting rate and economic signals have often produced low liquidity, choppy price action and rotation into selected sectors rather than a broad market rally.
In the short term, traders may continue to focus on Zcash’s $1,403.89 resistance, Monero’s $558.69 support and Bitcoin’s $87,354 breakout level. Privacy coins could remain volatile because of strong momentum and elevated positioning. Over the longer term, sustained ETF inflows and continued interest in privacy technology could support Zcash, but profit-taking and macroeconomic policy remain significant risks.