Zcash Price Soars to Eight-Year High Above $850 Ahead of Grayscale ETF Launch

Zcash's price surged to an eight-year high above $850 as traders positioned themselves ahead of Grayscale's conversion of its Zcash Trust into The Zcash ETF. This expected launch on NYSE Arca has cleared a multi-month supply zone, and the token is now targeting $900 and the psychological $1,000 level.

The momentum behind this move is strong, with daily RSI above 80 indicating an overheated market. However, this does not automatically invalidate the breakout; during price-discovery phases, RSI can remain elevated for extended periods.

A sustained close above $850 would confirm that buyers are absorbing supply at new highs and could open a move toward $900, with $1,000 becoming the next major psychological target. However, if momentum cools, a pullback to the $780-$800 area or even the $700-$720 region is possible.