- Following a sharp recovery in the first half of April, the Zcash price is seeking sustainability above the $328 to bolster its next recovery leap.
- Geopolitical instability acted as a macro catalyst for privacy asset demand, including Zcash.
- A potential golden crossover between the 50-and-200-day exponential moving average could further strengthen the $ZEC’s recovery momentum.
Zcash, the privacy-focused cryptocurrency, showed low volatility trading ahead of Tuesday’s U.S. market hours to trade at $369. This resulted in a neutral candle formation which follows the broader slowdown in recovery momentum across crypto markets to recoup the exhausted bullish momentum. However, the speculative demand in $ZEC’s derivative market records a steady growth, suggesting the price could continue its upward momentum. Is the Zcash price ready for a $400 breakout?
$ZEC Outperforms as Growth Rate and Momentum Surge
In the first half of April, the Zcash price recorded a significant recovery from $231 to current trading volume of $370 current trading value, registering a gain of 60%. The initial push for this rally came from geopolitical instability as such a situation often drives demand for privacy-focused assets, positioning Zcash as a primary beneficiary. Another catalyst was Grayscale Zcash Trust accumulating approximately $46 million in shielded $ZEC.
cryptonewsz.com

