Zcash: Rebounds $2.5B on Supply Fix Plans
Zcash rebounds $2.5 billion with ZEC at $449.18 as developers plan supply conundrum fix using zk-SNARK privacy tech.
SourceAnalysis
Zcash added $2.5 billion in market value after developers outlined a fix for its long-standing supply conundrum, reviving interest in the privacy coin first launched in 2016 with zk-SNARK zero-knowledge proofs for shielded peer-to-peer payments.
Price action on the 4h chart shows ZEC at $449.18 pressing the upper Bollinger band at $470.67 while the EMA50 at $464.16 acts as immediate resistance above the EMA200 at $495.89; the MACD golden cross at -7.59 signals building bullish momentum even as neutral RSI at 53.89 leaves room for a quick retracement toward lower-band support at $318.33 before any extension higher.
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