Zcash Price Volatility: Can Bulls Push Past $1,500?

Zcash (ZEC) has reached $1,300 and its price is now in a volatile phase. However, rising mining profitability is giving the asset another bullish angle. According to Grayscale Research data, Zcash mining rewards are roughly twice as high per mining rig and about four times higher per megawatt hour (MWh). This gap has clearly mattered, with total Zcash mining activity increasing more than 2.5x this year.

The $ZEC technical chart also points toward stronger demand. Investors have increasingly taken interest in the asset, accumulating $ZEC and driving its price sharply higher. However, there's no guarantee buyers will continue to push the price up, as a pickup in selling pressure could trigger a correction towards $900 or potentially lower.

The next move could decide whether Zcash extends its rally or gives back part of its recent gains. If bullish momentum continues, the next major psychological target for the $ZEC price could be the $1,500 round-number level.