The privacy-focused cryptocurrency Zcash (ZEC) is showing strong bullish signals from a technical analysis perspective. Experts note that a "cup-and-handle" chart pattern forming on the ZEC/USD pair could lead the price to exceed $1,000 in the coming weeks. This is reported by Cointelegraph.com .
Currently, the ZEC price is attempting to break through resistance levels around $625–$650. If this technical pattern holds, the cryptocurrency's value is expected to reach $1,091 by June or July, an 88 percent increase from the current price.
Over the last three days, ZEC has risen by 18 percent, while the overall crypto market has declined by 3.45 percent. This situation has led to speculation among investors that Zcash is experiencing its own independent "bull market."
Overall, the privacy token sector has seen significant activity over the past month. While ZEC is leading with growth of over 73 percent, cryptocurrencies like Monero (XMR) and Dash (DASH) are also following suit. For comparison, the total crypto market capitalization has grown by only 0.2 percent during the same period.
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