Is Zcash ‘Running Its Own Bull Market?’ This shows the 88% ZEC price rally setup
Privacy coin Zcash (ZEC) is flashing a familiar bullish reversal pattern that could push its price above $1,000 in the coming weeks.
Main Receptors:
ZEC's cup-and-hand setup suggests a possible rally to $1,091 in June or July.Privacy coins are leading the market, with ZEC up 73% in the past month, with the crypto gaining 0.2%.
Privacy Narrative May Increase ZEC Value By 55%
The ZEC/USD pair appears to have formed a cup and handle (C&H) pattern, marked by a circular recovery phase and downward spiraling consolidation.
Traders read the structure as bullish after the price breaks above the neck, as it suggests that buyers have taken the previous wall of supply and regained control.
A pattern's upside target is calculated by measuring the distance between the lowest point of the cup and the neckline and adding the height to the breakout level.
ZEC/USD Three Day Price Chart. Source: TradingView
Since Tuesday, ZEC has entered the “handle” level of the pattern, seeing a flash above neckline resistance around $625–$650.
If the C&H structure is projected, Zcash's critical close above the neckline could send Zcash to $1,091 in June or July, an increase of about 88% from its current price.
This reversal target corresponds to ZEC's 1.618 Fibonacci extension, from the $745 swing high to the $185 swing low.
ZEC outperforms the crypto market in May
ZEC is up 18% in the last three days, even though the broader market is down 3.45% over the same period, with some traders arguing that Zcash is “running its own bull market”.
Source: X
Broadly speaking, privacy coins outperformed the broader crypto market last month. ZEC led the charge, gaining more than 73%, while other privacy-focused tokens such as Monero (XMR) and Dash (DASH) also joined in.
In comparison, the total crypto market capitalization grew by just 0.2% over the same period, suggesting that the move was sector-based rather than market-wide.
ZEC/USD outperforms XMR/USD, DASH/USD and the overall crypto market for one month. Source: TradingView
Elevated identity and financial privacy are driving much of Zcash's renewed appeal, turning the once-forgotten privacy coin into one of crypto's strongest narratives.
Related: Zcash gains 70% in week as interest in crypto privacy grows
The bullish case gained more attention last week after BitMEX co-founder Arthur Hayes said ZEC's market capitalization could one day reach 10% of Bitcoin (BTC).
That means a price of $9,225 per coin based on ZAC's current circulating supply of 16.68 million tokens.
Since Hayes' comment, the price of ZEC has risen about 20.50% in BTC.
ZEC/BTC Daily Chart. Source: TradingView
In early May, sentiment improved after Multicoin Capital announced Zcash exposure and Robinhood listed its token, adding fresh institutional and retail access boosters to ZEC's rally.
