- On March 23, Zcash price soared by 7% with a market cap of $3.8 billion, helping it to soar from $218.17 to $230
- The upward momentum in the crypto market was seen after U.S. President Donald Trump’s recent statements on the war against Iran, where he mentioned de-escalation
- Despite this surge in the crypto market, there is a technical pattern that suggests a potential bearish momentum.
The leading privacy crypto, Zcash (ZEC), has witnessed a bullish momentum with a spike of over 7% on a daily chart. According to CoinMarketCap, Zcash is trading at around $231.01 after soaring by over 7% in 24 hours. The cryptocurrency is holding a market capitalization of $3.82 billion, along with a 24-hour trading volume of around $445 million.
This staggering market capitalization makes it the 25th biggest cryptocurrency, which is showing a growing demand for privacy-based cryptocurrency. The current circulating supply is around 16.59 million Zcash tokens.
This bullish momentum comes at a time when the crypto market witnessed a rally due to major global events. U.S. President Donald Trump made back-to-back statements recently about peace progress with Iran, including Iran’s agreement not to acquire nuclear weapons, and his Truth Social post ordering a 5-day pause on military strikes against Iranian energy infrastructure.
Zcash Price Surges 7% with Relief Bounce in Rising Wedge
According to experts, these signals are expected to reduce global tensions and reduce risk aversion, which encourages investors to return to risk assets like cryptocurrencies. Bitcoin and altcoins, including privacy coins, benefited from such peace trade sentiment as lower fears of war brought buyers back into the market.
However, some experts are saying that the Zcash price rebound is still showing some signs of weakness. One detailed technical analysis stated that the price has bounced sharply into a nearby resistance band around $230, but the move is already losing momentum under a descending structure.
(Source: GainMuse)
The Zcash price chart shows a relief bounce forming inside a rising wedge pattern that revolves within a downward trend. The chart shows a relief bounce forming inside a rising wedge pattern that revolves around a downtrend.
The overall trend might follow a bearish pattern if the upper wedge boundary rejects the price. Major levels to watch include resistance around $230 and support around $210. If the Zcash price soars above the wedge resistance and sustains above the rejection zone, the expected downside could become invalid, which would open the door for more upside. Traders are expected to see these zones closely because failures at resistance could trigger additional selling pressure.
The growth in Zcash is also coming from recent performance, which is linked to new interest in privacy coins with shielded pool usage and on-chain data, which shows steady activity despite price swings. Earlier in March 2026, the cryptocurrency witnessed a large surge after reaching 20% to 25% in single sessions linked to funding announcements and technical breakouts from patterns like falling wedges.
In the last few weeks, Zcash has witnessed major developments. The Zcash Open Development Lab (ZODL) secured $25 million in seed funding from Paradigm and a16z crypto. This investment helps to accelerate the Zodl wallet and shielded privacy tools after the ECC transition.
The Grayscale Research March report also sparked a euphoria in the community by suggesting that it has an upside potential of 18 times if it captures even 5% of the Bitcoin privacy currency market share through its zk-SNARK shielded transactions. This report from a major financial institution has grabbed the attention of investors.
Apart from this, there are some major upgrades mentioned in the Zcash Foundation 2026 roadmap, which are expected to enhance the network scalability and institutional readiness. These include the high-performance Zebra node, which improves network efficiency, along with FROST threshold signatures that allow secure multi-signature wallets.
Also Read: Zcash Price Signals 15% Drop Despite Surge in Shielded Pools
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