Zcash (ZEC) Maintains Momentum Above $1,600 Following 21Shares European ETP Launch Trader Edge | usagoldmines.com

Key Highlights

• ZEC has surged more than 70% during the previous 30-day period, maintaining levels above $1,600.
• Chart analysis indicates critical resistance zones between $1,560-$1,615, with $1,800 representing a broader upside target.
• Analyst RookieXBT posted on X that ZEC appears primed for movement toward the $1,800 level.
• 21Shares introduced a physically backed exchange-traded product for Zcash on Euronext exchanges in Paris and Amsterdam.
• Earlier this month, Digital Currency Group committed $100 million to Grayscale’s U.S.-based Zcash ETF.

Zcash has emerged as a standout performer among leading cryptocurrencies throughout September, successfully holding territory above the $1,600 mark. On September 22, ZEC was changing hands near $1,492 following an intraday peak approaching $1,569.

The privacy-focused cryptocurrency recorded gains exceeding 70% across the 30-day window. During early September, ZEC was trading around $953 before rapidly climbing through the $1,000, $1,250, and $1,500 thresholds.

This upward trajectory materialized after a bullish pennant formation breakout that technical analysts had spotted earlier in the month. The pattern originally suggested $1,000 as an initial objective before subsequent projections adjusted upward.

Critical Resistance Zone Under Examination Near $1,600

The immediate price ceiling exists within the $1,560-$1,585 range. A confirmed daily close above approximately $1,582 would bolster the argument for continued upward momentum.

Beyond that threshold, market participants are closely monitoring the $1,600-$1,615 band. Liquidation analytics revealed concentrated short position liquidity clustered around $1,605-$1,610.

Should ZEC successfully breach these barriers, the $1,700 level emerges as the subsequent intermediate checkpoint. The wider technical framework then extends toward the $1,800-$1,850 territory.

Cryptocurrency analyst RookieXBT indicated on X that ZEC “looks like” it’s positioning for a run toward $1,800. His commentary represents a technical interpretation rather than a guaranteed price projection.

Bullish momentum persists across multiple technical indicators. ZEC continues trading substantially above its key short-term, medium-term, and long-term moving average benchmarks.

Relative Strength Index measurements hovering around 67-70 demonstrate that momentum remains in elevated territory. Additional oscillators, including Stochastic and CCI metrics, similarly reflect heightened readings following the recent price advance.

21Shares Debuts Zcash Exchange-Traded Product in Europe

21Shares unveiled a physically backed exchange-traded product for Zcash across Euronext’s Paris and Amsterdam exchanges. The investment vehicle operates under the ticker symbol ZCASH and carries an annual management fee of 2.5%.

The ETP provides traditional brokerage investors with Zcash exposure while eliminating the requirement to directly custody the digital asset. The underlying cryptocurrency holdings are secured through institutional-grade custody solutions.

This European market debut follows Grayscale’s introduction of a Zcash ETF on NYSE Arca during August. That fund delivers direct ZEC exposure via a U.S. exchange-listed investment product.

On September 8, Digital Currency Group allocated approximately $100 million into the Grayscale offering. Since DCG serves as Grayscale’s parent organization, this represents an affiliated capital commitment.

21Shares additionally noted that the privacy coin sector had grown from roughly $6.2 billion to approximately $30 billion in market capitalization over a twelve-month span. Their September analysis valued Zcash at around $20 billion during that assessment period.

As of September 23, ZEC continued trading above $1,500 following gains surpassing 30% over the preceding seven-day period. Upcoming technical challenges remain concentrated at the $1,585 and $1,615 zones before the $1,700-$1,800 range enters consideration.

The post Zcash (ZEC) Maintains Momentum Above $1,600 Following 21Shares European ETP Launch appeared first on Blockonomi.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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