Zcash price confirms Bullish pattern of Adam and Eve, aiming to rally above $900
Zcash extended its explosive recovery after confirming the bullish pattern of Adam and Eve on the weekly chart, traders are now watching a possible rally towards the $900 region.
Summary
- Zcash price is up more than 110% on the month after confirming the Adam and Eve breakout pattern, with traders targeting a potential rally towards $929.
- Grayscale’s spot Zcash ETF, the SEC’s closing of its Zcash investigation, and the shrinking supply have increased institutional and retail demand for ZEC.
- CoinGlass data showed dense clusters of short-liquidation between $680 and $700, while analysts warned the token remains overbought near current levels.
The price of Zcash (ZEC) has risen more than 110% in the past month and briefly touched $682 on May 22 before retreating to the $600 support area at press time. From its year-to-date low, the privacy-focused cryptocurrency has grown more than 245%, outperforming major altcoins over the same period.
The last leg high followed a combination of control relief, center stacking, and a strong short finish. Earlier this month, the US Securities and Exchange Commission formally closed its investigation into the Zcash Foundation without recommending enforcement action, removing long-term compliance risks that have weighed on investor appetite for privacy-focused assets.
Grayscale accelerated its institutional filing on May 12 after filing with the SEC to convert its Zcash Trust into a Zcash ETF on the NYSE Arca. The proposal placed ZEC among a limited group of altcoins pursuing regulated ETF exposure in the United States as issuers continue to expand beyond Bitcoin and Ethereum products.
Arthur Hayes recently revealed that Zcash has become the second largest crypto after Bitcoin, while Raoul Pal and Multicoin Capital publicly supported the private coin sector during the meeting. Their comments fueled speculation that institutional money could shift toward privacy-focused infrastructure projects after years of regulatory uncertainty over anonymity-enhanced cryptocurrencies.
Conditions for on-chain supply have been significantly strengthened during the meeting. Public data showed more than 30% of Zcash’s circulating assets, about 5.18 million coins, were moved to secure pools focused on privacy. A reduction in marketable supply increased the upward volatility when local demand rose above key resistance levels.
Foundry USA later added official ZEC mining support, bringing institutional mining infrastructure and additional hash rate stability to the network. During Consensus Miami, the Zcash Open Development Lab also unveiled the first “quantum-recoverable” wallets as part of a broader push for post-quantum security protection.
Adam and Eve building projects go for $929
The weekly charts now show Zcash completing the Adam and Eve textbook after regaining its neck near the $560 region. The structure formed after the price’s sharp decline near $190 earlier this year shifted into a circular accumulation phase during March and April.
The measured move from the pattern projects an exit target near $929, which represents about another 50% upside from current levels. Traders calculate targets by measuring the distance between the neckline and the pattern low before extending the same range higher from the break point.
The chart also shows ZEC regaining the Supertrend index, which turned bullish near the $314 region earlier this quarter. The price continues to be above that level despite the recent rejection near local highs.
Pressure indicators are always building at peak times. The weekly MACD histogram extended deep into positive territory while the MACD line continues to trade above the signal line, structural traders are often associated with sustained rallies rather than tired breakouts.
Crypto trader Ardi described Zcash as “one of the best macro return charts in the market right now” after the token completed a V-shaped recovery back to the upper $680 resistance area. In a post published on X, he added: “If that level breaks and confirms as support, I still target a move to the next $740 region.”
Collections of finishing and setting of whales strengthen about $700
The CoinGlass liquidation heat map data shows a congested average concentration between $680 and $700, where large clusters of short closings have accumulated over the past week.
A break through that resistance range could trigger another cascade similar to the rally earlier this month that wiped out more than $55 million in bearish positions in one trading session.
Major pools of capital have also formed around the $570 and $560 support areas below current prices. Those levels are closely aligned with the Adam and Eve neckline test area, making them key regions traders will look for dip buying activity if ZEC extends its pullback.
Lookonchain reported that the trader also opened a 40x Bitcoin short position worth more than $40 million while simultaneously holding a 53,500 ZEC long worth close to $33 million. The platform said that the trader’s position of Zcash fell under the water by almost $ 1.9 million after the latest correction.
Exposure to the ratio in all ZEC derivative markets increased rapidly alongside the price rally. Several permanent futures platforms recorded higher prices during the recent rally as traders piled into aggressive long positions, anticipating a further uptrend in the new cycle.
Bitcoin has stabilized near the $77,000 region after ETF-driven selling pressure earlier this month, allowing speculation to flow back into high-beta altcoins, including Zcash, Solana, and other privacy-focused assets. The development of the broader crypto concept has helped hold momentum for all altcoins that have already broken above key technical resistance levels.
Upcoming US inflation and job market reports remain another key focus for traders after the Treasury revealed volatility in crypto markets earlier this quarter. Any economic data that supports expectations of a rate cut by the Federal Reserve in the future may improve liquidity conditions for speculative assets and strengthen demand for all altcoins.
Oil prices fell again this week after reports that the United States and Iran extended ceasefire talks related to shipping activity near the Strait of Hormuz. The pullback eased some inflation concerns in global markets and helped improve sentiment in risk assets, including cryptocurrency and high-beta altcoins like Zcash.
Weekly candles have started to print higher long lines near the $680 resistance region after ZEC’s 245% retracement from the annual low. The rejection suggests that some traders have started to capitalize on profits while more stability in futures markets remains high.
According to analyst Skinny, Zcash is overbought at current levels, and while the token may still rise to last year’s highs, it may quickly reverse bearish once it reaches the $740 resistance area.
Failure to hold the $560 breakout area could weaken the current bullish formation and expose a retracement to the $500 psychological level. A further decline below that region would mean that the continuation of Adam and Eve could trigger another wave of long closings in the derivatives markets.
Currently, Zcash continues to trade above its primary threshold while decreasing liquidity, institutional stimulus, and concentrated short exposures keep traders focused on a move to the $900 region.
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.
