Key Notes
Zcash price surged 30% to a four-year high amid a $19 billion crypto market crash.
Roger Ver’s $48 million DOJ settlement fueled optimism about easing US crypto enforcement.
Rising US-China trade tensions under Trump renewed demand for politically neutral, privacy-focused cryptocurrencies like ZEC.
Zcash (ZEC) price surged by 30% on Saturday, October 11, hitting a four-year high of $284, even as the broader crypto market erased more than $19 billion in derivatives positions within 24 hours. While Bitcoin and Ethereum plunged below key technical supports, Zcash emerged as the highest gainer among top-50 ranked assets on Saturday.
Zcash Sees Double-Digit Gains in 4 Consecutive Days as Markets React to Trump Tariffs on China
Zcash’s latest leg higher to $284 coincides with renewed geopolitical tension after U.S. President Donald Trump announced a new round of tariffs on Chinese imports. Zcash, which enables privacy-resistant peer-to-peer (P2P) payments, benefited from reignited discussions around neutral and privacy-oriented assets, as well as strategic investors seeking out profitable assets amid the ensuing crypto market downturn.
The ZEC price surge came after a week-long buildup of leveraged short positions, which culminated in a massive short squeeze once prices broke above the $250 resistance zone. This breakout triggered forced covering and large-scale ZEC short liquidations clustered around key resistance levels.
The MACD also maintains a wide positive divergence, confirming strong momentum, while Parabolic SAR dots also flipped below the intraday price candles.
If ZEC holds above the $250 breakout zone, bulls could target the $320 level highlighted by the Falling Wedge pattern on the 3-day chart. However, a drop below $235 would invalidate the bullish thesis and potentially plunge as far as the $190 support.
