Summary
- Zcash (ZEC) surged 12.48% in the past 24 hours, trading at $52.24
- Market cap rose to $865.42 million, an 11.04% increase
- 24-hour trading volume jumped 12.39% to $85.98 million
- Strong support at $45 and resistance near $55; a breakout could push ZEC toward $60
- Technical indicators like RSI and Chaikin Money Flow support bullish momentum
- Circulating supply steady at 16.65 million ZEC, near total supply of 16.71 million
Introduction: Zcash (ZEC) Surges with Strong Momentum
Zcash (ZEC), the popular privacy-focused cryptocurrency, has shown remarkable momentum over the last 24 hours. With a price jump of 12.48%, ZEC now trades at $52.24, pushing its market capitalization to $865.42 million. This bullish surge reflects renewed investor interest and growing demand in the market.
Zcash Market Performance Highlights
ZEC’s market cap has increased by 11.04%, driven by a significant rise in trading volume, which hit $85.98 million — up 12.39%. The volume-to-market-cap ratio is close to 10%, indicating healthy liquidity. The circulating supply of ZEC remains stable at 16.65 million coins, nearly reaching the total supply of 16.71 million. The fully diluted valuation (FDV) currently stands at $1.09 billion.
Zcash ranks 79th in global cryptocurrency rankings, underlining its established position in the market. The number of ZEC holders recently climbed to 10.87K, reflecting growing adoption.
Technical Analysis: Will ZEC Keep Rising?
On the daily price chart, ZEC exhibits clear bullish momentum:
- Support and Resistance: The $45 level acts as strong support, while $55 is immediate resistance. A break above $55 could propel ZEC toward the $60 mark. Conversely, a drop below $45 may expose the next support zone around $40.
- Relative Strength Index (RSI): The RSI currently sits at 61.76, below its average line of 65.78. This divergence suggests momentum is cooling but remains positive, supporting further gains. Should RSI hit 70, overbought conditions may prompt profit-taking.
- Chaikin Money Flow (CMF): CMF reads 0.13, above the zero line, signaling steady capital inflows and ongoing accumulation. Maintaining CMF above 0.1 confirms investor confidence and the likelihood of continued upward movement.
- Candlestick Patterns & Moving Averages: Recent bullish green closes and short-term moving averages trending below the price reinforce the positive outlook. No bearish crossover has appeared, suggesting ZEC’s uptrend is intact.
What’s Next for Zcash?
If buyers can breach the $55 resistance, ZEC could test higher levels near $60. However, should prices fall below the moving average, ZEC may revisit support between $45 and $40. Despite this, overall sentiment remains positive, with technical indicators favoring continued buying strength.
Conclusion
Zcash’s recent surge reflects a strong market interest and solid technical backing. Traders should watch key levels—support at $45 and resistance at $55—to gauge future moves. As long as capital inflows continue and momentum indicators stay bullish, ZEC could extend its rally in the near term.