Key Highlights
- Barry Silbert, Grayscale’s Chairman, endorsed Zcash as a champion of financial sovereignty
- Arthur Hayes, BitMEX co-founder, suggests ZEC may reach $400 soon, with ultimate target of $10,000
- Current ZEC price hovers around $388, showing 8% weekly gains and 61% monthly increase
- Critical resistance zone identified at $390–$400, with potential targets at $440–$447
- Brazilian Central Bank preparing to prohibit stablecoin and cryptocurrency use for international transfers starting October 1
The privacy-focused cryptocurrency Zcash (ZEC) has captured significant attention from influential figures within the digital asset industry. Barry Silbert, serving as Chairman of Grayscale, recently expressed strong support for the privacy-centric token, emphasizing that attempts to control decentralized digital currencies face inherent challenges. He highlighted that privacy-oriented blockchain networks function outside conventional monitoring systems. According to Silbert, Zcash embodies the principles of monetary independence.
Silbert’s endorsement followed announcements from Brazil’s Central Bank regarding upcoming restrictions on stablecoin and cryptocurrency usage for international settlements, scheduled to take effect on October 1. This regulatory development has sparked renewed interest among investors in privacy-preserving digital assets.
Hayes Projects $400 Milestone and Long-Term Gains
Arthur Hayes, the co-founder of BitMEX, has reinforced the optimistic outlook for ZEC. Through a recent social media update on X, Hayes observed that ZEC had already climbed to approximately $392 and suggested that reaching the $400 threshold appears imminent. More ambitiously, he proposed a long-range valuation target of $10,000 for the privacy coin.
Currently, ZEC is changing hands around $388, following an intraday peak of $392. The digital asset has posted an 8% advance over seven days and an impressive 61% surge over the past thirty days. The token’s market capitalization stands at $6.43 billion, accompanied by approximately $597 million in 24-hour trading activity.
The popular trading platform Robinhood recently added ZEC to its offerings, broadening the coin’s accessibility to mainstream retail traders.
Critical Technical Zones Under Market Scrutiny
Market observers have identified the $390–$400 range as a pivotal technical battleground. Crypto analyst Crypto Tony highlighted that successfully reclaiming the $390 level could pave the way for advancement toward $440. This price point corresponds with resistance areas identified by multiple technical experts.
Analyst LSTRADER identified a foundational support level around $306, which ZEC has successfully surpassed. The subsequent major resistance barrier above $440 is located in the $760–$770 territory. Igor’s technical analysis indicates ZEC is currently testing a supply concentration zone spanning $400–$420, with additional overhead resistance at $450 and within the $520–$550 range.
According to Pufi’s charting analysis, a projected trajectory points toward $447, with technical indicator-based support positioned near $340 and more substantial backing around $290.
Downside protection levels are established at $370 initially, followed by the $340–$350 zone. The privacy coin has consistently formed ascending lows since rebounding from the lower $300 region.
In near-term price action, ZEC traded close to $394, maintaining pressure against the $390–$400 resistance band.
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