ZEC Analysis
| Overall Performance | |||||
| 24-hr | 7-Day | 30-Day | 24h High | 24h Low | 24h Vol. |
| +6.91% | +16.55% | +5.93% | 512.000 | 444.000 | 134.24 mn |
Hourly Performance — UTC (last 6 hours)
| 20h | 21h | 22h | 23h | 00h | 01h ◀ |
|---|---|---|---|---|---|
| -1.37% | -1.15% | +0.27% | -0.60% | +1.10% | -0.09% |
What happened lately
In the past 24 hours, Zcash (ZEC) has experienced a notable price increase, rising by 6.91% to reach $486.120. This upward movement has been observed within a 24-hour trading range of $444.000 to $512.000. The trading volume for ZEC over this period was substantial, with $134,243,628 worth of ZEC changing hands.
Over the past week, ZEC has seen a significant rise, with a 7-day change of +16.55%. This indicates a strong upward trend in the short term. Over the past 30 days, ZEC has also appreciated by 5.93%, reflecting a positive performance over the longer term as well.
Despite the recent gains, ZEC remains below its recent high of $690.000, currently down by 4.64% from this peak. This suggests that while the cryptocurrency is on an upward trajectory, it has not yet returned to its highest levels observed in recent times.
For traders, the recent price movement of ZEC indicates a potential bullish sentiment in the market. The testing of the $512.000 level within the 24-hour range suggests that there is upward momentum, although the price has not sustained above this level. Traders may view the current price action as an opportunity to capitalize on the ongoing upward trend, while also being mindful of the resistance levels that have been tested but not yet surpassed.
What can we expect from ZEC today?
Zcash (ZEC) is currently trading at $486.120, marking a 6.91% increase over the past 24 hours. The token is positioned above its daily pivot of $479.867, suggesting potential volatility in either direction.
If bullish momentum continues, ZEC could test the first resistance level at $515.733. A successful breach of this level may open the path towards the second resistance at $547.867, indicating a strong upward trend.
Conversely, should bearish forces prevail, ZEC might drop towards the first support level at $447.733. A further decline could see the token testing the second support at $411.867, which would indicate a weakening market sentiment.
📈 Bull Scenario Watch resistance R1 and R2 for bullish continuation signals. | 📉 Bear Scenario Watch support S1 and S2 for bearish breakdown confirmation. |
Key levels to watch out:
| R3 | 583.733 |
| R2 | 547.867 |
| R1 | 515.733 |
| Daily Pivot | 479.867 |
| S1 | 447.733 |
| S2 | 411.867 |
| S3 | 379.733 |
About ZEC
Zcash (ZEC) is a privacy-focused cryptocurrency designed to offer enhanced security and anonymity for its users. Launched in 2016, ZEC operates on its own blockchain, utilizing a unique cryptographic protocol known as zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge). This technology allows transactions to be verified without revealing any sensitive information about the sender, receiver, or transaction amount, thus ensuring privacy and confidentiality.
Zcash offers users the choice between transparent and shielded transactions, providing flexibility depending on privacy needs. Its blockchain is similar to Bitcoin’s, with a fixed supply of 21 million coins, but it differentiates itself through its privacy features. ZEC is significant in the market as it addresses growing concerns over privacy and data protection, appealing to users who prioritize confidentiality in their financial transactions. As a result, Zcash has gained a reputation as a leading privacy coin, contributing to ongoing discussions about the balance between transparency and privacy in the cryptocurrency space.