Zcash rally extends to $600 as bulls target $750 breakout
Zcash has extended its rally, climbing over 17% in 24 hours to around $600, following an initial 15% surge to $224 after bouncing off its 20-day EMA at $187.75. The privacy coin’s technical indicators turned bullish, with its Stochastic RSI exiting oversold territory, DMI showing +DI at 26 versus –DI at 12, and ADX at 48 confirming strong trend momentum. Open interest in Zcash futures jumped over 20% to $1.23 billion, reflecting a rise in leveraged long positions, while high spot trading volumes and liquidity clusters between $690 and $720 signal buyer interest ahead of a potential $750 breakout. Institutional accumulation—led by Cypherpunk Ventures’ $18 million purchase—and endorsements from the Winklevoss twins and Arthur Hayes have further fueled retail demand. Key support zones sit at $200–$210 and near $600, while traders watch resistance around $690 for signs of sustained bullish momentum.
Bullish
Zcash’s sustained price rally, backed by bullish technical indicators—such as rising Stochastic RSI, strong DMI and ADX readings—and a surge in futures open interest signal continued upward momentum. High spot volumes and liquidity clusters near resistance levels suggest buyers are positioning for a breakout. Combined with significant institutional accumulation and high-profile endorsements, these factors point to strong short-term buying pressure and support a bullish outlook for ZEC toward the $750 target.