Privacy Coin Zcash Continues Historic Surge, Nearing 8-Year High Price

💡 DMK Insight

Zcash’s 74% surge this week isn’t just a price spike—it’s a wake-up call for short sellers. The liquidation of over $51 million in short positions signals a significant shift in market sentiment. Traders who were betting against Zcash are now scrambling to cover, which could fuel further upward momentum. This kind of volatility is typical in crypto, especially when a coin like Zcash, known for its privacy features, gains traction. Look for potential resistance around recent highs, as traders will be watching closely to see if this rally can hold. But here’s the flip side: while the short squeeze creates excitement, it also raises the risk of a sharp pullback. If profit-taking kicks in or if broader market conditions shift, we could see a rapid reversal. Keep an eye on the daily chart for signs of exhaustion or reversal patterns. Watch for key support levels that could indicate where buyers might step back in after this surge.