3 Minutes
Zcash jumps over 30% in 24 hours
Zcash (ZEC), the privacy-focused cryptocurrency, staged a powerful rally on Oct. 27, lifting prices by roughly 30% in a single day. The coin reached an intraday high of $374.74 before a mild pullback to $356.97 at the time of writing, according to crypto.news data. This breakout came with above-average trading volume and follows a clear pattern of higher lows that confirms an accelerating uptrend.
Market capitalization milestone
The surge pushed Zcash’s market capitalization past the $5 billion threshold for the first time, peaking at about $5.92 billion. The fast-moving rally lifted ZEC from roughly $240 on Oct. 21 to current highs, representing a week-long advance of more than 44% as altcoins outperformed amid easing US-China tensions that improved overall market sentiment.
Why the rally gathered momentum
Several factors have fueled the recent ZEC advance. One prominent catalyst was a bullish price projection from BitMEX co‑founder Arthur Hayes, who publicly suggested Zcash could ultimately reach a $10,000 valuation. Despite Hayes’ polarizing reputation as a forecaster, the prediction appears to have reignited investor interest and sparked significant buying pressure across exchanges.
Macro and sentiment drivers
In addition to speculative interest driven by high-profile commentary, the broader crypto market environment — including cooling geopolitical risks and improved investor risk appetite — helped altcoins like ZEC gain traction. Heightened liquidity and rotation into privacy coins have amplified the move.
Zcash price chart
Technical outlook: indicators and key levels
Technical indicators currently support the bullish case for ZEC, though they also warn of potential short-term pullbacks. The Relative Strength Index (RSI) has climbed to 77.05, squarely in overbought territory and signaling strong buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) shows the MACD line at 46.59, comfortably above the signal line at 41.01, with a positive histogram of 5.58 — signs of expanding bullish momentum following the earlier bullish crossover this month.
Support and resistance to watch
Near-term upside targets are clustered in the $380–$400 area. A decisive daily close above $380 could confirm continuation toward $400, a psychological milestone that would attract both traders and long-term holders. On the downside, immediate support sits around $340; failure to hold that level could open a drop toward $300 before any sustained recovery attempt.
What traders and investors should consider
While on-chain momentum, technicals, and positive market sentiment point to further gains for ZEC, the elevated RSI suggests the possibility of short-term corrections. Traders should manage risk with clear stop-loss levels and size positions appropriately. Long-term investors should weigh the speculative nature of high-profile price calls and maintain a diversified approach within the privacy-coin and broader crypto allocation.
Source: crypto
Leave a Comment