zcash

Did you know #zcash (#Zec )was forked from Bitcoin in 2016 and it was designed to offer enhanced user privacy.$ZEC The network uses a technology called zk-SNARKs, which is a security protocol that allows transactions to be verified without revealing the sender, recipient, or amount.
Zcash uses the Equihash algorithm for mining, which differs from Bitcoin’s SHA-256, and is best mined using Application-Specific Integrated Circuits (ASICs).
Zcash uses a mining algorithm called Equihash. This is different from Bitcoin’s SHA-256, so miners need specific hardware to mine ZEC.$

Zcash saw a strong rise in price after it was listed on a large trading platform. This new support brought fresh activity and made many traders look again at privacy coins. The rise came fast because new listings often bring new buyers and more trading volume. People in the market reacted quickly and this helped Zcash build a solid early push during the day.

The first breakout on the chart gave buyers a strong base. Even then the price still has to prove its strength around the zone between three hundred sixty and three hundred ninety. For now buyers continue to push higher and that is why many expect that the trend may shift in a bigger way if the support holds. The listing also made the asset more visible and that has drawn many short term traders who add to the sharp moves that are showing up.

The price broke out above a long downward pattern on the chart. This is important because it shows that buyers are taking back levels that were hard to cross before. When a coin starts to make higher lows it often means the market could be turning toward a steady climb. The chart now shows the next real barrier near four hundred forty three. If the price can close above that level with strength then the path opens toward five hundred twenty six and maybe even six hundred five if the push keeps building with strong volume.

A rise in trading interest supports this move. Open interest grew more than eleven percent and now sits close to nearly one billion in value. This tells us that many traders are taking leveraged positions as they expect more upside. A rise in open interest is common when momentum traders return to the market. It also means the market can move in sharp ways because heavy positions on one side make quick swings more likely. Still the growth in open interest matches the strong chart so many traders feel more sure about the current rise.

Short sellers are also feeling the pressure. Data shows that short traders lost more than three million while long traders lost far less. When short traders lose this much it often means that they had to exit their positions as the price kept climbing. This exit can push the price up even faster. Long traders did not face heavy losses which shows that buyers continue to pick up dips as the price moves upward. Even then traders watch the level near three hundred sixty because a sudden drop could bring new swings in price.

At this time Zcash keeps moving higher because the trend is supported by strong buying interest rising open interest and losses on the short side. The breakout pattern also gives the market a clear path toward the next resistance areas. Traders keep a close eye on key levels but the overall picture shows that buyers are in control and that the price could try to move toward higher targets if the current strength stays in place.
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Clear Double-Bottom structure forming with neckline resistance ahead.

A confirmed breakout and retest of the neckline would validate bullish continuation.

Setup remains valid as long as the two lows hold.

#ZEC #Zcash

✅ Trade here on $ZEC