How High Can Zcash Price Go In November?

Zcash (ZEC) price has been on an impressive upward trajectory, gaining more than 10% in the past 24 hours. This surge follows a notable 50% increase over the past week, pushing ZEC to hover around the $400 mark. With such a positive mood, analysts are looking at additional gains, and there is a chance that the market could keep climbing in the next few days.

Zcash is performing well, whereas other cryptocurrencies, such as Bitcoin price, Ethereum (ETH), Binance Coin (BNB), and Dogecoin (DOGE), are experiencing modest growth.

The TAO price, among the best performers, also witnessed a great boost, gaining more than 20% in the recent trading. However, the majority of altcoins have posted only minor gains within the same timeframe.

Here’s Why Zcash Price Is Up Today

The price of Zcash has been increasing significantly in the past 24 hours, which was caused by a number of influential factors. A minor squeeze has also been playing a significant role, as more than 65 million of ZEC futures have been liquidated, most of them through short positions.

Approximately 65% of traders shorted ZEC as of November 1, which led to a dynamic in which an increase in prices caused further liquidations, which further inspired further gains. This is coupled with the anticipation of the impending November 2025 halving that will cut mining rewards to 1.5625 to 3.125 ZEC per block, and this has fueled the bullishness.

In addition to this, celebrity endorsements, including the Arthur Hayes price target of 10,000 USD on ZEC, have increased the social media-induced FOMO, making retail investors enticed. The market is currently converged to the $581.43 liquidation level, whereby a breakout above will cause a cascade of buybacks, and this will cause an additional upward movement.

Zcash Price Surge Signals Potential Bullish Rally

The price of Zcash has soared by 50%  since it escaped from a triangle shape, as pointed out by a crypto analyst in a recent chart. The breakout was followed by a robust rise in the price, signifying the existence of a strong bullish momentum in the market.

The analysts also noted that Zcash is on the verge of another possible bullish rally, and it is likely to attain a new all-time high. With the tide moving in the right direction, most people are waiting keenly on the price of ZEC as it is expected to continue gaining over the next few weeks.

Zec Price Pyes $500 Target as Momentum Builds

The latest ZEC price shows a steady increase, currently trading at $417. The Relative Strength Index (RSI) stands at 64, which indicates that ZEC is approaching the overbought zone. The Chaikin Money Flow (CMF) stands at 0.24, indicating that the market is under the buying pressure, which may further help it to rise.

If the ZEC price manages to break through the key resistance level around $420, it could target the next resistance at $500. Support levels can be found at the $400  zone, while any drop below this level might signal a correction.