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ZEC Zcash (ZEC): The monthly increase exceeded 70%, and the expansion of institutional products boosted market attention.
Zcash (ZEC) became one of the high-profile altcoins in the cryptocurrency market in September. In the past 30 days, ZEC has increased in value by more than 70% and while maintaining strong upward momentum, it has focused investors 'attention on key resistance areas around $1,600. 21 Shares 'launch of the European physically backed Zcash Exchange-Traded Product (ETP) and the expansion of institutional investor products for ZEC are important factors supporting market interest.
From a technical perspective, if the price breaks through the US$1,560 - 1,615 range, the US$1,700 and subsequent US$1,800 prices will become the target of close attention.
Zcash has gained more than 70% in the past 30 days
Zcash performed well throughout September. At the beginning of the month, ZEC prices traded around US$953, and then broke through the US$1,000, US$1,250 and US$1,500 barriers in turn during the rise. In the past 30 days, the cryptocurrency has increased in value by more than 70%, becoming one of the leading assets in the market. It is pointed out that this rise accelerated after a breakthrough in technical forms. The original technical target was aimed at $1,000, but as prices continue to rise, the target has been raised.
ZEC is currently trading above important moving averages in the short, medium and long term, which is seen as a sign that upward momentum continues.
Key resistance level analysis
In the short term, the $1,560 -1,585 range is an important resistance area. In particular, a strong daily close above $1,582 could support a continuation of the upward trend. The next important area is between $1,600 and $1,615. Liquidation data showed that significant liquidity in short positions was concentrated around $1,605 -1,610. If ZEC breaks through these resistance levels,$1,700 will become the first important intermediate target; and in the broader technical perspective, the $1,800 -1,850 range could become a new focus. Cryptocurrency analyst RookieXBT also pointed out that ZEC appears to be preparing for a new movement towards $1,800.
21Shares launches Zcash ETP in Europe
With growing interest in Zcash, 21Shares launched physically supported Zcash ETP on Euronext Paris and the Amsterdam Stock Exchange. The product is traded under the "ZCASH" code and the annual management fee is set at 2.5%. The new ETP allows investors trading through traditional brokerages to gain investment exposure to Zcash without having to directly purchase or host ZEC tokens.
The underlying cryptographic assets of this product are designed to be secured through an organization-level custody solution. 21Shares also noted that the total market value of the privacy-oriented cryptocurrency space has increased from approximately US$6.2 billion to approximately US$30 billion in the past 12 months. This growth reveals the growing interest in Zcash and other privacy-oriented projects.
Zcash faces critical resistance test
21Shares在欧洲的ETP举措拓宽了Zcash的传统金融渠道，同时美国方面的机构动态也备受关注。继Grayscale对其Zcash投资产品的一系列发展之后，Digital Currency Group（DCG）于9月8日宣布投入约1亿美元资本，进一步推动了市场对该资产的机构兴趣追踪。
在技术层面，若上涨动能要持续，1,585美元和1,615美元附近的阻力区域至关重要。如果这些水平伴随强劲成交量被突破，1,700美元以及分析师提及的1,800-1,850美元区间将被密切关注。然而，RSI指标处于67-70区间，表明虽然存在强劲动能，但也需警惕短期的获利回吐及潜在的价格回调风险。
