Zcash’s comeback is turning into one of crypto’s biggest stories of the year as the privacy token extends its rally ahead of the upcoming halving event.
Summary
- Zcash price is up 20% to $658, extending 200% monthly gains.
- Halving on Nov. 18 will cut rewards and boost scarcity.
- Privacy adoption and institutional inflows strengthen long-term momentum.
Zcash surged to $658 at press time, jumping roughly 20% in the last 24 hours and extending a blistering run that’s now up about 200% in the last 30 days. Over the last year, ZEC has gained more than 1,300%, a surge fueled by renewed interest in privacy coins and the upcoming halving event.
Daily trading volume fell to $2.3 billion, down about 29% from the previous day, suggesting some traders are pausing after heavy Zcash (ZEC) buying earlier in the week. According to CoinGlass data, open interest rose 22% to $1.12 billion, while futures volume fell 24% to $5.95 billion.
This mix points to a more relaxed market with traders holding their positions, indicating confidence in the current rally, as opposed to speculative activity.
Halving hype and rising privacy adoption
The immediate fuel is the upcoming halving on Nov. 18, which will reduce block rewards from 3.125 ZEC to 1.5625 ZEC per block. With this change, the yearly supply rate is reduced to about 3.5%, producing a scarcity effect similar to that of Bitcoin (BTC).
ZEC’s price action is a classic example of pre-halving positioning, which traders often expect. Analysts, including BitMEX’s Arthur Hayes, have floated $1,000+ targets if momentum sustains.
At the same time, on-chain data shows growing real-world use. More than 30% of the total ZEC supply, about 5 million coins, is now stored in shielded pools, a 60% monthly increase. These pools use zk-SNARK cryptography to facilitate completely private transactions.
As new cross-chain integrations and privacy-focused wallets like Zashi make private payments easy for regular users, shielded transfers have increased by almost nine times this year.
Institutional interest is also building. In recent weeks, the assets under management of Grayscale’s Zcash Trust have more than doubled, reaching $151 million. This indicates that regulated funds are returning to privacy-focused assets, especially as data security becomes a major theme in global finance.
ZCash price technical analysis
Despite signs of exhaustion, ZEC’s short-term charts show a strong upward trend. The relative strength index close to 83 indicates that the market is likely much overbought, and momentum shows prices moving faster than average.
All of the major moving averages, ranging from the 10-day to the 200-day, are still below the current price, indicating a strong bullish trend. Support is forming near $550, which aligns with the 20-day moving average and recent consolidation levels. Resistance is around $700–720, the next psychological level to beat.
If momentum cools, a pullback toward $600 could offer a healthy reset before another leg up. A clean break above $720 could open the path to $850 and beyond if the halving narrative keeps attracting inflows.
