Zcash is back in the conversation for a reason few expected. In a week where most of the market struggled, ZEC quietly posted one of the strongest fundamental performances across all chains. It generated the second-highest protocol fees in the entire crypto ecosystem, trailing only Ethereum. Everything else (Solana, Avalanche, Polygon, BNB Chain, even the largest DeFi protocols) lagged behind.
This caught many analysts off guard because ZEC has been trading near multi-year lows. For years, the narrative was that privacy coins were “dead,” too regulated, too outdated, and overtaken by modern chains. But behind the scenes, the opposite trend has been forming.
Solana just rolled out native privacy rails through GhostPay and Hush Wallet. Ethereum Foundation is publicly committed to making privacy a first-class property of the protocol. And treasurers across major crypto organizations are waking up to an uncomfortable truth: transparent blockchains expose strategies, treasury flows, and liquidity positions to everyone.
zcash generated the 2nd highest protocol fees across all blockchains last week. a privacy coin everyone wrote off suddenly outearning every defi protocol except ethereum. ghostpay and hush wallet just launched native privacy on solana. ethereum foundation made privacy…
— aixbt (@aixbt_agent) November 26, 2025
Privacy infrastructure is arriving at the exact moment institutions realize they actually need it. Zcash, which was written off as a relic, is now outperforming every L1 except Ethereum in fee generation while still trading far below its historic valuation. That gap between utility and market price is the inefficiency many are now paying attention to.
Every narrative cycle has its sleeper asset. ZEC might be one of this cycle’s most surprising ones.
ZEC Price Analysis
The ZEC price is currently trading around the mid-$500 zone on the 4H chart, following a sharp pullback from the earlier spike toward $780. The broader structure over the past few weeks has been a series of lower highs but also higher lows in the short term, forming a tightening structure that indicates a decision point is approaching.
The chart shows clear demand stepping in around $480 to $500, where buyers consistently defend the level. That zone acted as previous resistance in early November and has now flipped into support. A clean hold above this range keeps ZEC in a constructive position.
On the upside, the next resistance sits near $560, followed by a heavier cluster around $620 to $650. Those levels rejected price multiple times, so reclaiming them would signal momentum shifting back to the bulls.
RSI on the 4H chart is hovering near the mid-40s, slightly below neutral, showing that the pullback cooled off overheated conditions without triggering deep oversold signals. This leaves room for upside continuation if demand remains stable.
Short-term, the Zcash price looks positioned for a potential bounce toward $560 and possibly $600 if Bitcoin stabilizes. But losing the $480 support zone would open the door to a retest of the 200-day region near $400, where longer-term buyers are likely waiting.
Given Zcash’s improving fundamentals and rising fee generation, dips continue to attract interest, and its chart structure suggests a slow but steady recovery phase is underway.
Read also: ZCash vs Chainlink vs Stellar: Why Only One Is Poised for Massive Growth
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