Zcash price rallies over 20% to three-month high as privacy-focused coins gain momentum

Zcash (ZEC) surged nearly 23% to a three-month high of $383 on Friday, April 10, extending gains to more than 60% over the past week. The move also left the token nearly 86% higher than its year-to-date low, making it the top performer among major cryptocurrencies on both daily and weekly timeframes.

Cause: retail demand and rising derivatives activity

Crypto.news data cited in the report shows Zcash climbed to $383 after rising nearly 23% on the day. The rally was attributed to strong interest from retail investors over the past couple of days.

CoinGlass data indicated that this demand lifted Zcash futures open interest to $818 million on Friday, up nearly 26% from the previous day.

Development: shielded liquidity pools and a broader privacy-coin bid

A key driver highlighted in the article was increased attention to Zcash’s shielded liquidity pools, which are designed to support transaction confidentiality. The Zcash dashboard showed that more than 31% of all ZEC coins are held in shielded pools, representing nearly $1.96 billion in protected value.

The report also pointed to a broader rally across privacy-focused cryptocurrencies. The total market capitalization of privacy assets rose more than 11% to over $13 billion. Monero (XMR), the sector leader, gained 4.3% over the past 24 hours, while other privacy tokens including Dash (DASH) and Decred (DCR) recorded significant gains.

Data points and technical levels to watch

On the daily chart, Zcash broke out of a descending triangle, described as a major bullish reversal signal in technical analysis. The Supertrend indicator flipped green, indicating bullish control, while the Relative Strength Index (RSI) crossed above overbought levels and was reported at 78, suggesting heavy buying pressure.

The article identified key levels for the next phase of trading:

• Resistance: $419, the 61.8% Fibonacci retracement level
• Potential upside target: $450 (psychological level) if resistance breaks
• Support: $332, the 38.2% Fibonacci support level
• Downside scenario: if Zcash falls below $332, the bullish thesis could be invalidated, with a deeper correction toward $300

Impact and outlook

The report said that if investor demand continues to build, Zcash could extend its uptrend as bulls attempt to push the price above $400 for the first time since January.

It also noted that an RSI reading in overbought territory could be followed by a brief cooling-off period, even if the broader technical picture remains constructive.