Zcash Price Forecast: ZEC holds above $1,500 amid Grayscale ETF stock split, NU7 upgrade

Zcash (ZEC) is trading above $1,500 on Monday after more than 40% gains last week, driven by institutional inflows and broader crypto market recovery. Grayscale’s ZEC-focused Exchange-Traded Fund (ETF) recorded $98.21 million in inflows last week, while developers focus on the NU7 upgrade to boost its private payment speed. The technical outlook for Zcash warns of capitulation as momentum stretches thin. 

Zcash rally triggers Grayscale ETF stock split

Grayscale’s Zcash ETF (ZCSH) recorded $98.21 million in inflows last week, marking its fourth consecutive week of inflows. The ETF now has $914.53 million in ZEC under management, with nearly $250 million in monthly inflows so far. Zcash’s 200% rally over two months makes it the best-performing crypto and fuels institutional demand. The ZCSH fund will implement a 3-for-1 stock split to increase liquidity as the demand for ZEC rises. 

Zcash private transactions to get faster

Zcash developers are planning to release the NU7 upgrade on November 5, which could reduce the block time by 50 seconds, down to 25 seconds per block. This reduction will increase the transaction speed of private transactions, which could boost ZEC adoption coupled with the recent integration on the Ledger network.

Technical outlook: Could Zcash rally extend above $1,500?

Zcash trades above $1,500 on Monday, maintaining a firm long-term bullish bias. The privacy coin holds well above the 50-day Exponential Moving Average (EMA) near $965 and the 200-day EMA around $603, extending away from its medium- and long-term trend lines.

The Relative Strength Index (RSI) near 70 on the daily chart is declining, while spot is rising, signaling a bearish divergence. Meanwhile, the Moving Average Convergence Divergence (MACD) remains in positive territory, together suggesting strong but stretched upside momentum.

On the four-hour chart, Zcash reaffirms a constructive near-term bias above the 50-period EMA at roughly $1,365 and the 200-period EMA at roughly $1,059. These EMAs suggest the uptrend remains intact, while the spot price is capped below a rising resistance trendline, connecting the August 23 and September 19 highs, near $1,653.

Zcash must surpass Friday's high of $1,595 and the overhead trendline near $1,653 to sustain an upward trend into a price-discovery mode.

Looking down, the immediate support aligns with Thursday's low at $1,422, followed by the 50-period EMA at $1,365. A deeper pullback could test the reclaimed September 9 high at $1,296, followed by the support cluster formed by the 200-period EMA at $1,059 and the September 4 high at $1,050.

(The technical analysis of this story was written with the help of an AI tool. Know more.)