Zcash Breaks $1,100 as Privacy Coin Rally Continues
Zcash has broken through the $1,100 barrier as its price continues to rise. The token's breakout began in August when it pushed past $1000, and since then buyers have been driving ZEC into progressively higher trading ranges.
The rally accelerated after clearing the $530-$540 range, but profit-taking occurred when the price reached $887. Despite this setback, buyers stepped in near $750 to prevent a deeper retracement and protect most of the breakout gains.
As of press time, Zcash is trading at $1,187.32, having risen by 17% in the last 24 hours. Holding above $1,100 would maintain buyer control, giving them another chance to push the price above $1,220. However, losing this level could deepen profit-taking toward $890.
The breakout has also pulled leverage higher, with Open Interest rising toward $2.7 billion and derivatives traders amplifying the spot-driven advance. Short liquidations reached $44.71 million within 24 hours, forcing another buying wave as ZEC created new highs.