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Bitcoin (BITCOIN)
$108,950 -2.48%
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$2,565 -3.51%
binancecoin
BNB (BINANCECOIN)
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solana
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ripple
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pepe
Pepe (PEPE)
$0.000015 4.41%
bonk
Bonk (BONK)
$0.000023 4.62%
bitcoin
Bitcoin (BITCOIN)
$108,950 -2.48%
ethereum
Ethereum (ETHEREUM)
$2,565 -3.51%
binancecoin
BNB (BINANCECOIN)
$667.16 -2.02%
solana
Solana (SOLANA)
$179.72 0.39%
ripple
XRP (RIPPLE)
$2.36 -2.93%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000015 -3.66%
pepe
Pepe (PEPE)
$0.000015 4.41%
bonk
Bonk (BONK)
$0.000023 4.62%
bitcoin
Bitcoin (BITCOIN)
$108,950 -2.48%
ethereum
Ethereum (ETHEREUM)
$2,565 -3.51%
binancecoin
BNB (BINANCECOIN)
$667.16 -2.02%
solana
Solana (SOLANA)
$179.72 0.39%
ripple
XRP (RIPPLE)
$2.36 -2.93%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000015 -3.66%
pepe
Pepe (PEPE)
$0.000015 4.41%
bonk
Bonk (BONK)
$0.000023 4.62%
Disclosure
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ZCash Price Prediction – Why ZEC Could Soon Hit $80

Highlights:

  • ZCash is now at a critical weekly resistance 
  • Rally through resistance could push ZCash to $80 or higher
  • Strengthening fundamentals could see ZEC rally to new highs

ZCash (ZEC) has been a top gainer in the last 24 hours at a time when altcoins are sending mixed signals. At the time of going to press, ZCash was trading at $47.94, up by 10% in the day. ZCash trading volumes are also on the rise, up by 43% to a high of $105 million in the day. This is an indicator that investor interest in ZCash is on the rise. Looking ahead, ZCash momentum could be headed higher. Multiple factors, both external and directly related to ZCash, could drive the price moment. 

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Bitcoin Price Momentum Likely to Push ZCash Higher

Bitcoin is one of the main reasons why ZCash could be headed higher. That’s because it indicates the overall direction for altcoins. This is evident this week when most top 100 altcoins, including ZCash, continue to gain upside momentum. With multiple indicators pointing to Bitcoin’s likelihood of going higher in the short term, the odds of ZCash following the trend are also exceptionally high. ZCash is also one of the cryptocurrencies that responded well to Bitcoin’s price action in the week, which could draw more investors in the short term.

Macro Environment Favours ZCash and Other Cryptocurrencies

The macro-environment also favors cryptocurrencies in general, which could inspire investments in ZCash. Earlier in the week, 20-year U.S. Treasury bonds experienced weak demand. This indicates that investors are considering other safe-haven investments outside of the USD. So far, cryptocurrencies have attracted significant attention, an indicator that capital could flow into this asset class. For cryptocurrencies like ZCash, which already have a proven track record and solid use case, this could mean a substantial rise in demand in the future. 

ZCash Could Benefit from Cryptocurrency Regulations

ZCash, like other privacy cryptocurrencies, could also benefit from the ongoing stablecoin regulations across the globe. Cryptocurrencies were meant to be a cyberpunk idea, not controlled by legacy systems. However, laws like stablecoin regulations that give governments easy access to stablecoin movements and even wallets could see money flow more into private cryptocurrencies.

This could be driven by the rising demand for privacy in an increasingly censored internet. Given its status as one of the best privacy coins in the market today, ZCash could draw in most of these volumes. ZCash price action lately, as stablecoin regulations gain traction across the globe, could be a hint of things to come.

ZCash Multichain Availability Could Drive Growth

Besides its strengths as a privacy cryptocurrency, ZCash is also going multi-chain. ZCash can now be moved across multiple blockchains using RenBridge. This big move could see ZCash trading volumes rise over time and influence its price action. This, especially now that bulls are regaining control in the cryptocurrency market, could play a significant role in ZCash’s future price action.

Technical Analysis – ZCash Trading at Weekly Resistance

ZCash is currently trading at weekly resistance at $48.27. If bulls push ZCash through this resistance, it could rally to $80 and above in the short term. However, if the $48.27 resistance fails, ZCash could return to $29.27 support in the short term.

Zcash
Source: TradingView

Of the two scenarios, the odds are higher that ZCash will soon reach $80. That’s because of rising bullish sentiment across the market and strengthening ZCash fundamentals. In the medium term, ZCash could test prices above $200, especially in an all-out bull market.

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