The Zcash (ZEC) price is having a huge day. The privacy coin is up more than 20% and trading around $593.53, making it the biggest gainer in the entire market.
This move comes after a week filled with mixed sentiment, some analysts warned of a potential drop toward $281, while adoption continued rising.
More than 4.9 million ZEC, or about 30% of the supply, is now held in shielded addresses, showing growing interest in the project’s privacy features. And with the halving just days away, traders clearly don’t want to wait.
What you'll learn 👉
Why ZEC Price Is Pumping Today
The next Zcash halving happening November 28. This will decrease the miner rewards from 3.125 ZEC to 1.5625. That will result in 900 ZEC on the open market. Based on the current price, that’s about $500,000 worth of ZEC every day.
The market loves scarcity narratives, and the +118% gain over the past 30 days shows traders are pricing it in early.
Cypherpunk Technologies, backed by the Winklevoss twins, recently launched a $50 million ZEC accumulation plan aiming to secure up to 5% of the circulating supply.
Grayscale has also expanded its Zcash trust. When big players start buying, liquid supply shrinks, and confidence usually rises.
What the ZEC Chart Is Showing
The 4H chart tells a pretty interesting story. The ZEC price briefly broke below its ascending trendline, triggering stop hunts and shaking out weak hands.
But instead of collapsing, it quickly reclaimed the trendline and bounced strongly. Analyst Ardi describes this as a “busted ascending triangle,” which happens when price fakes a breakdown, grabs liquidity, then reverses with even more strength.
The ZEC price is now moving toward a big resistance zone near $750, a level it failed to break twice earlier this month. If it finally clears that area, momentum could pick up fast. If not, the rising trendline below remains the first important support level to watch.
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ZEC Price Outlook This Week
For as long as this sentiment stays the same, as long as ZEC pushes above the $750 price mark, the closest price levels of resistance are in the range of $800, and even $850 in the future.
If it fails again, price could pull back toward the ascending trend line to confirm support before trying again.
For now, the Zcash price has flipped the script, a fake breakdown, a sharp reclaim, strong demand, and an upcoming halving are giving bulls something to celebrate.
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