ZCash (ZEC) rallies over 20%, adding $1 billion to its market cap.
The coin has entered the top 25 cryptocurrencies after reaching $354.
Arthur Hayes’ bold $10,000 prediction fuels FOMO-driven buying.
[NC] has started the week with a powerful rally, surging over 20% in the past 24 hours and outperforming all other top 50 cryptocurrencies by market cap. The surge added over $1 billion to its market capitalization, sending ZEC into the top 25 cryptocurrencies.
At the time of writing, ZEC is trading around $354, its highest level in nearly four years.
$ZEC just deleted 4 years of bear history in one candle..
The ZEC price rally, which started earlier in October, gained momentum following a post by BitMEX co-founder Arthur Hayes, a well-known voice in crypto circles.
In his October 26 post on X, Hayes described ZCash as a “vibe check” and suggested the token could eventually reach $10,000.
The post quickly went viral, triggering a rush of traders eager not to miss out. The rally also brought a massive 250% spike in trading volume, currently sitting around $1.6 billion.
While Zcash remains 93% below its 2016 all-time high of $5,941, renewed momentum has sparked speculation that it could finally reach a new peak.
Recent on-chain data shows a record surge in shielded transaction volumes, signaling deeper adoption of Zcash’s privacy features. Zcash’s developers have also announced upcoming upgrades, such as Network Update 6.1, which will improve cross-chain interoperability and scalability.
The cryptocurrency’s integration into THORSwap’s cross-chain ecosystem has also increased its accessibility within decentralized finance (DeFi). These developments have strengthened Zcash’s fundamentals and helped drive renewed investor confidence.
ZEC Price Eyes $420
Zcash’s daily price chart suggests a strongly bullish structure, with many believing it could be the next crypto to explode. The RSI suggests ZEC is in overbought territory, a condition often seen before short-term corrections.
However, sustained bullish momentum could keep the price high if buyers maintain control. A close above $375 could signal continuation toward the next resistance near $420.
ZEC price chart with RSI and Bollinger Bands | Source: TradingView
The Bollinger Bands show ZEC pushing above the upper band, suggesting the ongoing uptrend is strong. But in case of a price drop, key support lies around the mid-band (20-day SMA) at $250.
The MACD indicator remains bullish, with the MACD line trending above the signal line and widening, a sign of strong buying momentum. However, traders should watch for potential divergences or crossovers that might signal fading momentum.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.