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Zcash Regains Above $375 Amid Founder’s Response to Saylor’s Criticism
Zcash (ZEC) has regained stability above $375 following a public debate between Zcash founder Eli Ben-Sasson and Bitcoin advocate Michael Saylor. This interaction renewed market interest, especially after Zcash's brief surge toward $700 in November.
- Ben-Sasson highlighted Starknet's mission to expand the Bitcoin economy through staking, yield generation, and DeFi activity.
- He countered criticisms regarding Zcash’s privacy features and regulatory compliance, emphasizing their coexistence.
- Coin Glass data indicates a 6% rise in Zcash open interest, surpassing the 5% spot gains, suggesting bullish sentiment with leverage backing spot purchases.
Zcash Price Analysis
- Zcash is currently trading near $369, showing recovery from a late-November correction while forming a bullish pennant on the daily chart.
- The pattern suggests a potential retest of the $730 level if momentum and leverage inflows persist.
- Zcash needs to reclaim the middle Bollinger Band near $501 to prevent a return to the lower band and maintain the bullish pennant.
- A failure of the bullish trend occurs if ZEC closes below $272, though significant support is expected at $305.
