The altcoin market focuses its attention on privacy, as experts have pointed out multiple factors that could catapult the Zcash price this year. Despite widespread negative sentiment, the token shows independent momentum backed by solid fundamentals and growing institutional adoption. According to a recent analysis by Nhat Hoang, four determining factors are aligning to trigger an imminent breakout in the asset’s value.
First, the asset is rapidly evolving from a speculative instrument into a strategic store of value. Cypherpunk Technologies Inc., backed by Winklevoss Capital, announced the additional purchase of 29,869.29 tokens, valued at approximately 18 million dollars. This acquisition complements its previous holdings, bringing its total to 233,644.56 units with an average entry price of 291.04 dollars. This aggressive accumulation suggests that more firms could follow suit, and there is even speculation about the possible approval of an exchange-traded fund (ETF) for the coin.
Mert, CEO of Helius, highlights that these types of institutional moves will act as a “Trojan horse” for privacy at a planetary scale. Furthermore, data from DeFiLlama confirms that the cryptocurrency has maintained a negative correlation with Bitcoin over the past month. While the market leader fluctuates, ZEC moves in the opposite direction or remains more stable, demonstrating that it no longer relies on the “king of crypto’s” volatility to define its trend.
Will massive social interest be able to sustain the projected price breakout?
On the other hand, retail investor interest is exploding, even outpacing the market leader’s growth metrics. Data from the LunarCrush platform reveals that, although Bitcoin leads in total mentions, the growth rate of discussion around ZEC skyrocketed an astounding +15,245% in the last year. This exponential increase in social activity indicates a massive renewal in community confidence and participation, which usually precedes significant price movements in the digital asset sector.
Finally, technical indicators present a clear bullish outlook for the short term. Analyst Ardi points to the formation of an inverse head-and-shoulders pattern on the 4-hour chart. If the price manages to break resistance between 680 and 700 dollars, the technical target sits between 800 and 1,000 dollars. Likewise, a daily close above 748 dollars would open the path toward higher levels of 1,010 and 1,332 dollars. However, it is crucial to watch the 488 dollar support, as a drop would invalidate this bullish structure.
