Zcash Price Targets $840 as Bullish Trend Holds

Zcash price has been on a tear, surging from below $500 in mid-August to an eight-year high near $880. After a brief drop to $760.30 due to hotter-than-expected US inflation data, ZEC recovered and traded around $807 on August 28.

The rebound was driven by institutional interest, with expectations surrounding the proposed Grayscale Zcash Trust conversion into a spot exchange-traded fund (ETF) on NYSE Arca supporting the asset. The Network Upgrade 7 governance process has also contributed to market attention, with proposals under discussion including reducing block times and changing the network's issuance schedule.

The three-day liquidation heatmap shows a heavy concentration of leveraged positions between $835 and $840, making this area a key short-term liquidity target above the current price. A move into this zone could force short positions to close and help ZEC retest $850.