Zcash is testing the key $300 psychological level as 30% of its total supply moves into shielded addresses, a shift that could tighten circulating float and support further upside.
ZEC was trading around $287 at press time, down 11% over 24 hours but still up 23% for the week and 29% over 30 days, capping a roughly 792% annual surge that has made it one of this cycle’s strongest performers.
A Feb. 16 post by Delphi Digital described the expanding shielded pool as a “privacy flywheel,” arguing that a growing anonymity set strengthens privacy guarantees and may draw more long-term holders.
Derivatives data from CoinGlass showed trading volume fell 27% to $1.57 billion and open interest dropped 13% to $406 million, suggesting some leveraged positions were flushed during the recent pullback.
Coins entering the shielded pool historically show lower turnover, reducing immediately available supply, while Zcash’s November 2024 halving cut annual inflation to about 4% and is projected to lower it toward 1% by 2028, tightening issuance further.
Technically, ZEC faces clustered resistance near $300, with immediate support around $277 and deeper support near $188, as contracting Bollinger Bands signal cooling volatility that often precedes a directional move.
A decisive close above $300 could open the way toward $366 near the upper Bollinger Band, while rejection at resistance may trigger short-term consolidation and a retest of lower support levels.
At the time of reporting, Zcash price was $285.79.