Zcash stays above $500 as shielded supply shifts pools

• Zcash (CRYPTO:ZEC) was trading above US$500 on Monday, maintaining a sideways price trend whilst holding above its 50-day exponential moving average at US$490, following the completion of the Ironwood network upgrade in late July 2026.
• The Ironwood upgrade was implemented in response to a four-year-old security vulnerability discovered in late May 2026, which revealed a flaw that could potentially have allowed attackers to create counterfeit Zcash coins — a critical threat to the privacy asset's integrity and fixed supply model.
• Developers executed an emergency hard fork on 3 June 2026 before completing the full Ironwood upgrade in late July, which strengthened security around shielded transactions and encouraged users to migrate their holdings from the older Orchard pool to the new Ironwood pool.

Over the 24-hour period ending on the reporting date, the Orchard pool supply dropped approximately 17% to 1.49 million ZEC whilst the Ironwood pool's shielded balance climbed 14.5% to 2.30 million ZEC, reflecting a steady internal migration rather than an exit from privacy features.

The total supply of shielded ZEC stabilised at approximately 4.36 million, recovering from a low of 3.65 million at the start of August 2026 as confidence in the network's security was progressively restored.

ZEC futures open interest declined 1.3% to US$884.94 million according to CoinGlass data, whilst the funding rate fell to 0.0075% from 0.0098% the previous day, signalling softening appetite for leveraged long exposure despite a still-positive funding bias.

Zcash (CRYPTO:ZEC) is trading above its 50-day, 100-day, and 200-day exponential moving averages at US$490, US$469, and US$414 respectively, reflecting an intact medium-term uptrend.

Meaningful overhead resistance sits between US$532 and US$548, with US$532 marking the 78.6% Fibonacci retracement of ZEC's recent rise from US$368 to US$589, reinforced by a descending trendline — a decisive daily close above this zone would be required to reestablish bullish momentum.

The Relative Strength Index sits near 55 and the MACD line remains above its signal line with a sideways bias, reflecting mild bullish momentum without a clear advantage for either buyers or sellers and pointing towards continued consolidation absent a significant increase in trading volume.

Should ZEC break below US$500, key support levels are identified at the 50-day EMA of US$490, the 50% Fibonacci retracement at US$478, and the 100-day EMA at US$469.

At the time of reporting, Zcash price was $507.31.