Zcash Breaks $1,000 Barrier, Eyes $1,500 Target

Zcash (ZEC) has been on a tear, surging by over 43% from its Sept. 1 opening price of $829.69 to trade near $1,197 on Sept. 7.

The rally gained momentum after buyers cleared resistance around $888 and pushed ZEC through the psychological $1,000 level on Sept. 4.

According to a technical analysis by Team LAMBO Charts, the move represents a breakout from a large bullish pennant that had contained price for several months, with the analyst identifying $1,500 as the next major target.