Foreign media reports that against the backdrop of a still weak overall crypto market, Zcash has recently climbed back above $600, outperforming some mainstream crypto assets. The article suggests this relative strength reflects a resurgence in market attention towards privacy coins, with short-term focus shifting to whether ZEC can further test the $680-$700 range.
Returning to the price theme after the security incident
The report mentioned that Zcash had previously initiated an emergency network upgrade and released Zebra version 4.5.1 due to a security issue with the Orchard shield pool. Developers stated that this incident temporarily affected Orchard trading, but user funds and privacy were unaffected.
The article argues that the project team's swift resolution alleviated market concerns about cybersecurity risks. As the impact of the incident gradually subsides, traders' attention is returning to coin price performance and whether privacy coins will attract more investment.
The $600 support level remains key.
From a technical perspective, the article describes ZEC's current structure as an ascending triangle, with consistently higher lows, while the $680-$700 area forms major resistance. If the price continues to hold near $600, the current rebound structure still has room to continue.
The article mentions that the Relative Strength Index (RSI) has returned above 50, approaching 58, indicating that buying pressure has improved compared to the previous period, but it has not yet entered the overheated zone. Although the MACD is still in the weak zone, the negative momentum has weakened, meaning that the short-term downward pressure has shown signs of easing.
Resistance around $700 awaits a break.
The article states that if ZEC effectively breaks through the $680-$700 range, the price may further rise to $714 before testing higher levels. Conversely, if it falls back below the support near $600, the trend may weaken, and it may face pressure to fall back to the $540 area.
With Bitcoin's momentum still somewhat weak, Zcash's relative strength has become a key point of market observation. The article argues that the next few trading sessions will determine whether ZEC continues its upward trend or enters a longer period of consolidation.
