Zcash price hits 8-year high before retreating below $820

Zcash price surged more than 70% over the past week to an eight-year high near $885 before retreating below $820, as Grayscale’s ETF conversion plan and an NU7 governance vote drew traders toward ZEC. Summary ZEC reached its highest price since 2018 after breaking above the major $750 resistance level. Grayscale’s amended filing seeks to convert its Zcash Trust into an NYSE Arca-listed spot ETF. NU7 voting eligibility was determined by the shielded ZEC held during an August 24 network snapshot. Technical charts show support near $812 and $750, while $875 remains the immediate resistance. Zcash price pulls back after reaching $885 According to data from crypto.news, Zcash (ZEC) price traded near $820 at the time of writing after reaching approximately $885 earlier in the session, according to exchange data. The privacy coin gained more than 70% during the past seven days and reached its highest level since 2018. The rally accelerated after ZEC cleared $562.50, which marked the upper boundary of its previous trading range on the daily chart. Buyers then pushed through successive levels at $625, $687.50, and $750. ZEC moved as much as 77% above its August consolidation area near $500 ...