Zcash Price Prediction – Is Another 100% Rally in Sight Soon?

Key Takeaways

Why has Zcash change into so standard currently?

Its reputation exploded in October when the altcoin gained fame for its privateness know-how.

How excessive can ZEC go?

Primarily based on technical evaluation, a rally to $726 is feasible.

Arthur Hayesco-founder and former CEO of crypto alternate BitMEX, is within the information at this time after predicting a $10,000 Zcash [ZEC] worth in a single message on X. Common crypto dealer Bitcoin Jacket additionally defined ZCash’s attraction. Merely put, it is seen as a “actual privateness Bitcoin competitors,” and it’s semi-quantum ready.

Actually, it has additionally attracted most of the individuals who had been early to Bitcoin [BTC]. Will the ZEC conviction maintain up within the coming months?

The Zcash worth forecast is extraordinarily bullish, and here is why

Supply: ZEC/USDT on TradingView

The weekly chart highlighted excessive bullishness. The RSI has additionally been at excessive ranges currently. Actually, the 92.7 studying it posted within the first week of October was the best weekly RSI studying ever for ZEC.

As Bitcoin Jack famous, the story round ZEC has been robust and has already satisfied most of the largest names within the crypto world. Collectively, they highlighted purchaser energy and a compelling story that might entice much more capital to the market.

The energy of this story final month noticed it rise to the $372 stage quicker this cycle than in 2021. Buying and selling quantity has additionally been extremely excessive for a number of weeks in a row – an indication that market curiosity is probably going, and never simply non permanent hype.

Primarily based on the Fibonacci extension ranges plotted throughout the 2020-2021 rally, it’s potential that ZEC might rise to $726 in 2025. It ought to break the $372 stage on the weekly chart. The intense RSI worth may want time to chill down.

Nonetheless, bull markets should not have to adapt to expectations corresponding to “overbought RSI, forex wants time”. A compelling story concerning the token’s adoption might see the worth skyrocket past such restrictions, as has occurred to date in October.

Zcash remains to be removed from its purpose highest ever of $3,191 as of October 2016. At this level, it is onerous to say whether or not the $3,000 targets are achievable or improbable.

Disclaimer: The data offered doesn’t represent monetary recommendation, funding recommendation, buying and selling recommendation or some other type of recommendation and is solely the opinion of the author