This is why traders set a price target for ZEC to reach $875.

After bottoming out at $423, Zcash (ZEC) has recorded three consecutive bullish sessions, closing at new high levels. As a result, this altcoin has firmly positioned itself above both short term and long term moving averages, indicating a steady growth trend.

At the time of the update, Zcash is trading at $673, up 30.72% in just one day. Notably, this increase is supported by a surge in trading volume, rising by as much as 82%. At the same time, Zcash's market capitalization has also impressively grown by 35%, placing ZEC in the 12th position in the ranking of the largest cryptocurrencies in the world. So what has driven this bullish wave?

Expectations for protected trading add momentum to the market

Despite the market volatility, Zcash continues to maintain an optimistic outlook, mainly due to the upcoming launch of the protected transaction feature on Zashi Wallet. Starting next week, users will be able to privately swap other cryptocurrencies for ZEC through Zashi Wallet, with the support of Near Intents – a feature that the community has high expectations for.

Source: Josh SwihartThis allows investors to convert coins like Bitcoin (BTC) into ZEC that is secured with an equivalent value, ensuring both security and enhancing privacy. However, alongside the positive assessments, this feature also faces warnings from expert ZachXBT about the risk of information leakage when using transparent Zcash addresses for refunds.

Buyers are coming back strongly

Zcash has just experienced three consecutive days of positive Buy Sell Delta, reflecting strong buying pressure. In the past 24 hours, the buying volume reached 1.6 million, higher than the selling volume of 1.4 million, resulting in a positive Buy Sell Delta of 200,000 – a clear sign of strong accumulation in the spot market.

Source: CoinalyzeThe futures market has also witnessed an unprecedented boom. After the recovery signal, investors quickly flocked to the derivatives market to position strategically. The Futures Taker CVD index continuously maintained a green color throughout the past week, confirming the dominance of the buyers.

Source: CryptoQuantThe trading volume of derivatives surged by 104.92% to 9.4 billion USD, while open interest (OI) also jumped by 43.93% to 1.28 billion USD. The growth consensus of these indicators shows that the inflow of funds and participation in the futures market is becoming increasingly strong.

The Long/Short ratio has also increased to 1.04, indicating that the majority of investors are choosing to open Long positions, expecting the price to continue to rise in the near future.

Source: CoinGlass## Future outlook for ZEC

Before the speculative wave regarding the upcoming hidden ZEC purchase feature, Zcash has seen a strong recovery in both spot market demand and derivatives. The Stochastic Momentum Index (SMI) of ZEC has experienced a bullish crossover, rising to 6.6 – indicating very strong growth momentum.

Source: TradingViewWhen this indicator crosses, it often signals the dominance of the buyers and the potential for prices to continue going up. If demand remains high, ZEC can definitely surpass the resistance level $750 and aim for the target of $875.

On the contrary, if it cannot break out, ZEC will have a solid support area around the $495 level, where the 18-day moving average is currently located.

In summary, Zcash is facing a great opportunity to break through, thanks to technological innovations and positive market sentiment. However, investors still need to closely monitor technical indicators and market developments to make informed decisions.

Mr. Giáo