Zcash Surges to Eight-Year High Amid Renewed Privacy Coin Interest

Zcash has reached an eight-year high, pushing its price to $822.18 as futures bets nearly double.

The surge in ZEC is attributed to aggressive positioning on the long side by traders, driven by renewed interest in privacy coins.

The price of ZEC has surpassed both the 50-EMA at $684.95 and the 200-EMA at $562.58, with open interest in futures contracts nearly doubling.

On the 4h chart, the price is currently within the Bollinger Bands, with upper resistance at $914.04 and lower support at $693.26.

The Relative Strength Index (RSI) remains neutral at 63.87, while the MACD death cross at 58.13 warns of near-term momentum loss, suggesting a possible retracement towards the 50-EMA before any extension higher.