Zcash Surges 50% After Naval Ravikant Endorsement, Trades at $148
Ravikant has highlighted Bitcoin as a hedge against fiat currency while suggesting Zcash could protect digital assets from financial surveillance.
Market Impact and ZEC Price Movement
- Following Ravikant's endorsement, Zcash (ZEC) surged over 50%, reaching approximately $148.
- ZEC remains below its previous peak near $320, indicating potential growth if privacy coins gain popularity.
- The recent price breakout from a descending wedge pattern suggests a possible macro-level reversal.
- Technical indicators show bullish momentum, with the MACD confirming a bullish cross and RSI in overbought territory.
- Bullish targets range between $800 to $1,000, with optimistic projections reaching up to $35,000.
- If the breakout fails, ZEC might revisit the $20–$30 range.
Privacy Coins and Regulatory Environment
- Demand for privacy coins like Zcash may rise as regulatory scrutiny on capital flows increases.
Source: TradingView
About Bitcoin Hyper ($HYPER)
- Bitcoin Hyper aims to build a Layer-2 ecosystem on top of Bitcoin, addressing transaction speed and fee issues.
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