Zcash price surges 20% as bulls target $1,500

Zcash price rallied more than 20% on Sep. 16, breaking above $1,300 as network upgrade optimism helped $ZEC resist a broader crypto market sell-off.

Zcash price action today

According to data from crypto.news, Zcash ($ZEC) price traded at approximately $1,337 at the time of writing, up 20.46% over the daily session. The privacy coin opened near $1,110 and reached a high of $1,385 before giving back part of the move.

The advance placed $ZEC among the strongest-performing large-cap crypto assets while Bitcoin and several major altcoins faced selling pressure following the failed CLARITY Act vote in the US Senate.

Network-specific developments helped separate $ZEC from the wider market. Zcash holders backed a proposal to reduce block times from 75 seconds to 25 seconds in the Network Upgrade 7 governance poll, according to the information provided. The proposal received 98.9% support while retaining the network’s existing halving schedule.

Plans to integrate the Ironwood shielded pool with Ledger hardware wallets also supported sentiment around the network’s privacy infrastructure.

$ZEC’s performance extended a strong recovery that began in August. The daily chart shows price accelerating from around $500 in mid-August to above $1,300, with the sharpest gains arriving after $ZEC cleared the $800 region in early September.

$ZEC breaks above a major technical pivot

The daily chart shows $ZEC moving above the Murrey Math resistance level at $1,250, identified as a strong pivot and reversal zone. Price then tested the next resistance at $1,375 during the intraday rally.

A daily close above $1,250 would keep the immediate structure favorable for buyers. The next upside level sits at $1,375, followed by the $1,500 “ultimate resistance” zone.

$ZEC would need to clear $1,500 and hold above it before traders could consider the next extensions at $1,625 and $1,750. Such targets remain conditional because the current rally has already carried price far above its August trading range.

The Average Directional Index stood at 53.95 on the daily chart. An ADX reading above 25 usually indicates a strong trend, while the current reading suggests $ZEC’s directional move remains powerful. ADX does not identify whether the trend is bullish or bearish, however, and an elevated reading can persist during a reversal.

Immediate support lies at $1,250. A loss of that level could expose $1,125, which marks the top of the previous trading range. The larger pivot at $1,000 would become relevant if selling pushes $ZEC below both supports.

4-hour indicators support the breakout

$ZEC also broke above its Supertrend resistance on the 4-hour chart. The indicator had capped price near $1,206 before the latest candle advanced as high as $1,385.

The breakout shifted the Supertrend into a bullish position, with its support line moving toward $1,128. Price was trading more than $200 above that indicator at the time of the chart capture, reflecting strong momentum but also a widening distance from short-term support.

Chaikin Money Flow rose to 0.10 on the 4-hour chart. A reading above zero points to net buying pressure, supporting the price breakout. CMF had recovered from negative territory during the rally, suggesting capital flows improved as $ZEC moved beyond its recent consolidation range.

A pullback that holds between $1,250 and $1,206 would allow the bullish structure to remain intact. A drop through that area would raise the risk of a deeper move toward $1,128–$1,125.

Liquidation levels could increase $ZEC volatility

The 24-hour CoinGlass liquidation heatmap shows that $ZEC moved through several liquidity concentrations during its advance from approximately $1,100. Dense bands appeared around $1,150–$1,170, $1,205–$1,215, and $1,235–$1,240.

The heatmap snapshot ended with price near $1,235, before the TradingView charts recorded the later push above $1,300. $ZEC therefore appears to have cleared several overhead liquidation zones during the breakout.

The strongest remaining liquidity visible on the map was concentrated below the market around $1,150–$1,170. Additional bands appeared near $1,125–$1,145 and around $1,090–$1,110. Such clusters can become areas of interest during a correction, although liquidation heatmaps do not guarantee that price will move toward them.

Higher bands were visible around $1,285–$1,295 and $1,305–$1,315. The later rally to $1,385 suggests those short-liquidation areas were likely swept as price accelerated.

Analysts split over Zcash’s next move

Altcoin Sherpa said $ZEC appeared to be consolidating rather than preparing for a deep correction toward $1,000. The trader expected choppy Bitcoin conditions to keep the consolidation in place but identified $1,500–$2,000 as the potential range for another upward leg.

Crypto Patel presented a more cautious outlook, pointing to a bearish momentum divergence near $1,300. The analyst said a sustained rejection from that supply zone could expose support around $800 and a larger demand area near $500.

The bearish scenario cited by Patel requires $ZEC to fail below $1,300. Price’s later move through that level weakened the immediate rejection case, but bulls still need to defend $1,250 and establish support above $1,300.

For US traders, the failed CLARITY Act vote remains a wider market risk even as $ZEC benefits from network-specific demand. Continued weakness in Bitcoin or a hawkish Federal Reserve signal could increase profit-taking across leveraged altcoin positions.

$ZEC’s short-term direction now depends on whether buyers can secure a daily close above $1,250 and challenge $1,375 again. A clean break above $1,375 would place $1,500 in view, while failure to protect $1,250 could send the price back toward $1,125.

Source: cryptonews.net