Arthur Hayes’ $10,000 ZEC Call Sparks Crypto-Wide FOMO, But Can Zcash Price Hold the Hype?
The Zcash (ZEC) worth has surged by greater than 750% in the previous three months, with token holders gaining over 20% in the final 24 hours.
The dormant privateness coin from crypto’s early years began stealing the highlight in October, after almost 9 years of relative dormancy following its launch in 2016.
Arthur Hayes Reawakens a Zcash Price Rally
CoinGecko information reveals ZEC is up by 20.8% to commerce for $332.52 as of this writing. It follows a current put up from Arthur Hayes, after the BitMEX co-founder and former CEO known as a $10,000 worth goal for ZEC, the powering token for the Zcash ecosystem.
The put up from Hayes, identified for his contrarian macro views and market-moving comments, reinvigorated curiosity in the altcoin after the Black Friday crash failed to stop ZEC.
“…after an extended interval of silence, it [ZEC] was out of the blue endorsed by a legendary Silicon Valley investor, driving everybody to observe the pattern and take part, subsequently triggering a full month’s FOMO market frenzy,” said analyst AB Kuai Dong.
Zcash has seen periodic spikes over the years however has largely light into obscurity amid tighter regulation and waning developer exercise.
Over the previous few weeks, it has been back on traders’ radars, and never only for nostalgia. Against this backdrop, the analyst likened the ZEC worth rally to the early Bitcoin and Ethereum mania, with a number of structural catalysts now aligning.
“ZEC completely blew my thoughts. Price pumped +755% in 3 months, testing the $305 “ATH” resistance. Greyscale launched a Zcash belief this month, a Hyperliquid itemizing, an upcoming halving, and the “BTC vs. Zcash” dialogue triggered explosive momentum,” said crypto analyst Lennaert Snyder.
In the identical tone, technical analyst Clifton FX highlighted an ascending triangle sample for the ZEC worth on the 8-hour chart, suggesting potential for an additional 100–150% upside on breakout.
Still, not everyone seems to be satisfied. Ignas DeFi, a well-liked DeFi analyst, known as Zcash the excellent case examine for a way narratives emerge and go viral. The analyst warned that many might turn out to be exit liquidity for coordinated pumps.
Further, Ignas DeFi described a reflexive loop wherein merchants see ZEC content material on X (Twitter) and purchase in to keep away from lacking out. The FOMO amplifies the hype as group members have interaction with extra ZEC posts, feeding the cycle additional.
Mert Helius, CEO of Helius Labs, expressed skepticism, referencing ZEC’s valuation relative to larger-cap altcoins.
Zcash Price Outlook: Why ZEC Holders Should Watch $281.35
With the ZEC worth buying and selling for $333.77 as of this writing, curiosity attracts to the $281.35 help degree, the provide zone’s imply threshold (midline) between $270.95 and $292.22.
In hindsight, each time the worth examined this order block, it met intense sell-pressure that halted the upside, at the least earlier than the current breakout.
From a technical standpoint, the ZEC worth is buying and selling inside an ascending parallel channel. For so long as an asset’s worth stays inside the confines of this technical formation, it’s primed for extra positive aspects.
With the RSI (Relative Strength Index) nonetheless climbing, momentum continues to rise and, with it, the Zcash worth might see additional upside, probably reaching $360. Such a transfer would represent a 6% climb above present ranges.
Conversely, if the higher boundary of the ascending channel holds as a resistance degree, the ZEC worth might drop. A slip under the channel’s midline at $298.35 would exacerbate the correction, with the help attributable to the 9-day SMA (Simple Moving Average) more likely to break as a help degree.
However, solely a decisive candlestick shut under the imply threshold of $281.35 would affirm the correction, with promoting strain more likely to lengthen. Slipping under this degree would toss the ZEC worth into bearish arms able to promote.
Selling strain might trigger the Zcash worth to spiral to $240, successfully breaking out of the bullish technical formation.
In a dire case, the ZEC worth might drop under the $200 psychological degree, with prospects for extra losses.
The RSI’s position at 79 additionally raises issues, suggesting that the ZEC token is already massively overbought and will quickly endure a correction attributable to purchaser exhaustion.
The put up Arthur Hayes’ $10,000 ZEC Call Sparks Crypto-Wide FOMO, But Can Zcash Price Hold the Hype? appeared first on BeInCrypto.
