Zcash is attracting some attention today as it bounces off its recent lows, a move that has sparked some curiosity among traders.
The ZEC chart still shows a lot of choppiness, but the sudden push upward isn’t random. A few different catalysts hit the market at the same time, and together they’ve helped lift the ZEC price off the bottom of its range.
What you'll learn 👉
Arthur Hayes Might Be Stirring the Market Again
One reason people are talking about the ZEC price today is Arthur Hayes. On November 17, the BitMEX co-founder transferred 1,480ETH, roughly $4.7 million to market makers.
That immediately triggered speculation that he could be shifting into ZEC, something he’s hinted at several times this year.
Hayes has repeatedly called Zcash “insurance against Bitcoin’s transparency” and encouraged users to shield their coins in self-custody.
Whenever he shows interest in a project, retail sentiment tends to follow, so it’s not surprising that ZEC reacted. Still, ETH selling pressure could cause some short-term turbulence, so traders are watching to see whether Hayes makes any more public moves.
Zashi Wallet Is Making ZEC Easier to Use
Another big factor behind today’s bounce is the new update coming to the Zashi Wallet. Starting next week, the wallet will support shielded ZEC purchases through NEAR’s cross-chain intents.
In simple terms, users will be able to swap assets like Bitcoin or Ethereum directly into private ZEC with just one step.
This is a meaningful upgrade because it connects the liquidity of DeFi with Zcash’s privacy layer, something that hasn’t been easy to do until now.
Over 30% of all ZEC is already held in shielded addresses, and features like Zashi’s CrossPay could push that number even higher by reducing the supply available to sell.
A Technical Rebound for ZEC — But Resistance Still Looms
The chart also played a role in today’s move. The ZEC price has cleanly bounced off from its 23.6 Fibonacci level around $612, and the MACD is showing a bullish divergence.
The RSI is resting deep in overbought territory at around 74, while the price still remains below the key $696-$700 resistance zone.
Short-term traders stepped in rather quickly, but whether or not this bounce turns into a more substantial trend will depend on how the ZEC price behaves around that overhead resistance.
A close above $696 might open the way up to $736, while failure could drop the price back to the $535 zone.
Read Also: Time to Sell Zcash ($ZEC)? This Trader Says Profit-Taking Is Smart
What’s Next for ZEC?
Today’s bounce mostly reflects a mix of renewed interest in Zcash’s privacy narrative and a well-timed technical reaction.
Hayes’ activity, Zashi’s upcoming upgrade, and a supportive chart all came together just as sentiment across the market remains fragile.
The crypto Fear & Greed Index sitting at 17 out of 100 shows traders are still cautious. And with a $7.5 million ZEC unlock happening today, upside remains limited until the market absorbs that supply.
The ZEC price has momentum behind it, but whether it can turn today’s spike into a larger move depends on what happens around the $700 resistance and how strong the demand for privacy assets stays over the coming days.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
