Zcash (ZEC) has emerged as the standout performer in the cryptocurrency market, outpacing top 100 peers such as Pi Network (PI) and Pump.fun (PUMP) with powerful double-digit gains. The privacy-focused coin extended its remarkable rally, climbing nearly 30% in the past 24 hours to a high near $370, its strongest performance in years.
ZEC’s price has soared over 500% in the last month, signalling renewed investor confidence and the potential end of a multi-year accumulation phase. The rally aligns with a broader crypto market recovery, spearheaded by Bitcoin’s rebound above $115,000, though Zcash’s explosive momentum points to project-specific catalysts driving sentiment.
Arthur Hayes Sparks ZEC Mania with $10K Call
A major catalyst for Zcash’s sudden resurgence is the endorsement from BitMEX co-founder and crypto commentator Arthur Hayes. Known for his influential market calls, Hayes recently projected that ZEC could eventually reach $10,000, a bold claim that electrified social media and rekindled interest in the long-stagnant privacy coin.
His remarks triggered a wave of speculative buying as traders rushed to position themselves ahead of what some see as a new ZEC cycle. Market analysts noted that Hayes’ influence often acts as a sentiment amplifier in the digital asset space, creating what DeFi analyst Ignas described as a “reflexive feedback loop,” where rising prices attract more attention, which in turn drives even higher prices.
Fundamentals Strengthen: Grayscale, Hyperliquid, and the Halving Effect
While social media buzz undeniably contributed to the surge, Zcash’s rally is also underpinned by tangible fundamental developments. Grayscale recently launched its Zcash Trust, marking a significant milestone that brings institutional exposure to the asset. The new listing of ZEC futures on Hyperliquid further broadens its derivatives market access, allowing both retail and professional traders to gain leveraged exposure.
In addition, anticipation surrounding Zcash’s upcoming block reward halving, which will reduce the rate of new coin issuance, has added fuel to the bullish momentum. Historically, halvings in major networks like Bitcoin have acted as catalysts for price appreciation by constraining supply.
These converging factors have helped push ZEC decisively through its long-term descending trendline that had capped prices since 2021. The breakout above the key $100–$120 resistance zone triggered a technical explosion, with bulls now targeting the $370–$400 resistance range.
Technical Outlook: Momentum Points to $400 and Beyond
On the 4-hour chart, ZEC continues to show robust bullish signals. The Moving Average Convergence Divergence (MACD) indicator remains above the zero line with expanding green histogram bars, signalling strong upside momentum. Meanwhile, the Relative Strength Index (RSI) at 73 suggests that ZEC is currently overbought but still supported by solid buying pressure.
If Zcash achieves a decisive close above the R1 Pivot Point at $381, traders may look toward the next major target at $436 (R2 Pivot). A sustained move above this level could clear the path to $550–$600 in the medium term.
Conversely, if the price experiences short-term profit-taking, strong support lies near $303, the central Pivot Point, followed by $305 on the weekly chart. Holding above these levels would maintain ZEC’s bullish structure.
On the weekly timeframe, the RSI hovers around 89, highlighting overheated conditions, yet the Chaikin Money Flow (0.44) confirms healthy capital inflow, a signal that institutional and retail investors alike are backing the move.
Caution Amid Euphoria: Is the Rally Sustainable?
While optimism surrounds Zcash’s comeback, analysts caution that parabolic rallies often lead to volatility. As Ignas DeFi pointed out, such surges can quickly reverse once retail enthusiasm fades, leaving late entrants vulnerable to sharp pullbacks.
Still, the broader sentiment remains constructive. If ZEC maintains support above $300 and continues to attract volume, a retest of its all-time high near $372 and potentially beyond, could occur before year-end.
The privacy narrative, reinforced by growing concerns over on-chain surveillance, positions Zcash uniquely among major cryptocurrencies. Whether Hayes’ audacious $10K call materialises remains to be seen, but for now, ZEC stands as the market’s most electrifying story, a once-dormant coin breaking free from years of consolidation and reclaiming the spotlight in crypto’s latest bullish wave.
