Zcash Price Soars 860% Since September: Pump-And-Dump Or Perfect Privacy Crypto?

The Zcash price surged 20% over the last 24 hours to trade at $520.26 as of 4:26 a.m. EST, with trading volume dropping 11% to $1.8 billion.

The ZEC price has also skyrocketed over 860% since September, despite jitters that saw the crypto market slump from above $4 trillion to around $3.43 trillion today.

The privacy-focused crypto’s surge has taken its market capitalization past $8.8 billion to become the 14th biggest token, enabling it to leapfrog Litecoin and Monero as the biggest privacy crypto.

To some, Zcash, a 2016 Bitcoin fork created by computer security expert Zooko Wilcox, has been on a rally because of real infrastructure progress and growing attention to privacy.

In particular, its Zashi wallet has made private transactions simpler for users, leading many to go private in a big way.

Others have warned of an artificial rally, warning buyers that they risk becoming “exit liquidity” for ”coordinated token pumps.”

Can the Zcash price continue to soar, or is a correction inevitable?

Zcash Price Poised For A Continued Bullish Rally

After consolidating within a narrow range near the $35–$45 zone for much of the year, ZEC finally broke out strongly in late October.

This decisive move marked a shift in sentiment from accumulation to expansion, triggering an aggressive rally that has since propelled the ZEC price to new yearly highs.

The breakout has taken the Zcash price to an annual peak of $525.58, with the price currently trading around $520.26. The former resistance near $376, on the 50-day Simple Moving Average (SMA), now serves as a critical support zone, while deeper support lies around the $209 level near the 200-day SMA.

Momentum indicators also support this optimistic outlook. The Relative Strength Index (RSI) currently reads 68.43, approaching the 70-overbought threshold. While this suggests that ZEC could experience a short-term cooldown, it primarily underscores the strong buying momentum driving the market. As long as the RSI stays above the midline (50), the broader bias remains upward.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator confirms strong momentum, as the blue MACD line (6.67) sits above the orange signal line (26.13) and the histogram remains in positive territory.

ZEC Price Prediction

According to the latest chart analysis, the price of Zcash remains in a clear bullish trend, with support established at $376 and $209.

If the current momentum continues, ZEC may attempt to break above the $530 resistance zone, potentially opening the path toward $600 in the near term.

Conversely, if the RSI moves deeper into the overbought zone, sellers may start taking control of the price. In such a scenario, price retracements toward $450 or even $376 would offer healthy corrections before any rally.