Privacy's Power: Zcash Breaks Out, Eyes $308 Target

Zcash (ZEC) has surged by 18% this week, with analysts suggesting the coin could see an additional 28% increase if current trends continue. The price of ZEC climbed past $42 on August 21, marking its strongest close in months. This rise follows a significant increase in the use of Zcash's shielded transactions, which now constitute a record high of 3.5 million ZEC. Shielded transactions are a core feature of Zcash, allowing users to conduct private transactions through zero-knowledge proofs, differentiating ZEC from other cryptocurrencies like Bitcoin.

The renewed interest in Zcash is supported by on-chain metrics. The ZEC price closed at $42.54 on August 21, trading above its 30-day and 50-day simple moving averages ($38.29 and $39.99, respectively) and brushing against the 100-day SMA ($42.65). A clean break above the 100-day moving average could potentially lead to a test of the $50 resistance level. Momentum indicators also suggest strength, with the RSI at 58, indicating neutral to bullish conditions, and the MACD showing a positive crossover.

Technical analyst Javon Marks highlighted a breakout from a multi-year resistance level, projecting a potential technical target of $308.46—an upside of nearly 600% from current levels. This projection, while ambitious, is grounded in historical volatility patterns of ZEC. Despite a 99.29% drop from its all-time high of $5,941.80 in 2016, Zcash has demonstrated significant resilience, having staged a 162% rebound from its July 2024 record low.

The Zcash market has also seen increased trading volume, with 24-hour trading volume topping $120 million. This indicates renewed liquidity and investor interest. The market cap of Zcash now stands near $680 million, reflecting growing confidence among traders. The surge in trading volume and price suggests a possible shift in market sentiment towards ZEC.

Analysts remain cautious, however, as the broader cryptocurrency market continues to experience mixed signals. Bitcoin, for instance, has faced challenges in breaking above $115,000, with ETF outflows contributing to downward pressure. The Zcash Foundation, meanwhile, continues to focus on community events and innovations to enhance the Zcash ecosystem. The foundation's three-year vision includes supporting learning, collaboration, and innovation across the global Zcash community, aiming to foster sustainable growth.

While Zcash's recent performance is encouraging, the market remains dynamic and subject to macroeconomic factors. Investors are advised to monitor both on-chain developments and broader market conditions, including the upcoming Federal Reserve speeches, for potential catalysts that could influence ZEC's trajectory.

Source:

[1] Zcash Price, ZEC Price, Live Charts, and Marketcap (https://www.coinbase.com/price/zcash)

[2] Zcash Price Chart & Market Cap - ZEC (https://coincodex.com/crypto/zcash/)

[3] Zcash Price Jumps Past $42 as Analysts Target $308 (https://www.banklesstimes.com/articles/2025/08/22/zcash-price-jumps-past-42-as-analysts-target-308/)

[4] ZEC Price Analysis: Will This Breakout End the Bear Market? (https://www.ccn.com/analysis/crypto/zcash-zec-price-surges-breakout-resistance/)

[5] Grayscale Zcash Trust (zec) Stock Forecast (https://stockinvest.us/stock/ZCSH)