ZEC Surges Over 30% Today, Breaks $180 to Hit Highest Level Since 2022

TradingKey – Zcash (ZEC) rallied more than 30% on Thursday, fully recovering yesterday’s losses and signaling potential for further upside.

On October 9, ZEC soared intraday, peaking at $185 — the highest price since March 2022. As of press time, the token has slightly pulled back and is trading around $174.

ZEC Price Chart – Source: TradingView.

Yesterday, ZEC plunged nearly 20%, dropping from $160 to $120. However, it held above a key support level, suggesting the dip may have been a deliberate shakeout rather than a true trend reversal. Some analysts believe this was a classic “bull trap” engineered by large holders to trigger panic selling before accumulation.

Today’s sharp rebound not only erased the prior losses but also set a new yearly high, reinforcing the view that ZEC’s uptrend remains intact. With its previous bull market peak at $350, ZEC still has roughly 100% upside potential if momentum continues.

This move comes amid renewed interest in privacy-focused cryptocurrencies, and ZEC’s technical resilience may position it as a leader in the sector’s recovery.