Zcash (ZECUSD) is a privacy-focused cryptocurrency using zk-SNARKs. It’s rallying sharply due to renewed interest in privacy coins, and a burst of speculative hype following bullish predictions. Technical breakouts and a short squeeze added fuel, while more ZEC moving into shielded pools has tightened supply. The move is driven by both real catalysts and speculation, but investors should watch for potential corrections and regulatory risks.
From Elliott wave perspective, Zcash with ticker ZECUSD remains under strong bullish pressure as expected, as privacy coins keep doing well. We are actually still tracking wave 3 of (3), and it can be now rising within subwave “v” of 3, with room up to 400, maybe even 500 area before we will see a wave 4 correction.
In Elliott wave theory, strong and impulsive waves are usually unfolded by a five-wave bullish structure.
Basic Impulsive Bullish Pattern shows that Zcash can be trading in wave 3 of (3) of a five-wave bullish cycle, but traders should be aware of wave 4 pullback before a bullish resumption within wave 5 of (3).
