Zcash (ZEC) has broken through $1,500, marking a 10-year high for the privacy-focused cryptocurrency. The asset currently trades around $1,470, having climbed 190% over the past month.
Bullish Outlook
Several analysts expect the rally to continue. Ali Martinez noted that momentum remains strong and identified $1,800 as his next target, a position he established when ZEC traded near $820 in late August. Analyst Scient suggested the asset is in price discovery with no imminent cool-off expected, predicting ZEC could easily exceed $5,000 if Bitcoin reaches a new all-time high. Picolas Cage issued the most bullish call, predicting Zcash could reach $14,000.
Bearish Concerns
Not all analysts are optimistic. Crypto with Harris ₿ opened a $100,000 short position, citing several risk factors. The analyst noted that ZEC has climbed continuously from $500 without a significant correction, and attributed recent gains partly to short liquidations that may be slowing. He also warned that excessive buyer confidence and FOMO-driven purchases often precede market corrections.
Lookonchain reported that a trader with a strong track record—26 consecutive winning trades and an 89% win rate—opened an $18.3 million short position on ZEC and is currently down $7.66 million. This trader faces liquidation if ZEC reaches approximately $1,551.
