Zcash Breaks Above Major Resistance Zone, Eyes $1,000 Target

Zcash broke past a significant resistance zone that had been holding it down for over a year and is now trading above $800.

The asset's price surged after clearing the $675-$745 zone, which was previously a barrier to further growth.

Traders are watching developments surrounding Grayscale's proposed Zcash ETF, which could provide traditional investors with regulated exposure to ZEC through brokerage accounts.

The ETF is targeting an August 25 launch on NYSE Arca pending final regulatory approval.