The privacy-centric cryptocurrency ZEC has emerged as today’s leading performer, experiencing a 17% surge over the last day amid signs of gradual recovery in the broader market. This upward movement has propelled ZEC to its highest point in 38 months, marking its most robust performance in over three years.
As momentum gathers pace, both on-chain and technical indicators suggest that the token might soon challenge the $90 mark.
ZEC Reaches New Heights
Over the past week, ZEC’s value has skyrocketed by 47%. These significant gains have been accompanied by a notable increase in social media presence, indicating that discussions about this altcoin are spreading across various crypto communities.
Currently, ZEC’s social media prominence is at a three-year peak of 0.51%, having surged by an impressive 458% within just three days.
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ZEC Social Dominance. Source: Santiment
An asset’s social dominance measures how frequently it is mentioned across social platforms and news outlets compared to other market assets. A decline indicates waning community interest and engagement, potentially impacting its price negatively.
Conversely, when an asset’s social prominence rises alongside its price, it reflects increased retail attention and speculative interest. Historically speaking, such heightened visibility often leads to short-term price increases which could further elevate ZEC’s value.
Additionally supporting this outlook are readings from ZEC’s Balance of Power (BoP) on daily charts. As of now, momentum remains positive at 0.75 with continued growth—confirming stronger spot demand for this cryptocurrency.
ZEC BoP Source: TradingView
The BoP indicator evaluates buying versus selling pressure strength within markets—a positive reading suggests buyers gradually gaining control over pricing actions while shifting momentum towards bullish territory thereby increasing chances for sustained rallies involving cryptocurrencies like Zec
Burst Of Speculation Points To Short-Term Price Movement
At present , zec trades near key support level $ ;79 .21 . If demand continues strengthening around current levels then there exists potential driving token prices upwards reaching approximately $ ;98 .80
zecpriceanalysis source tradingview
Alternatively should profit taking begin occurring then recent gains may be lost resulting break below existing support floor leading downward trajectory targeting approximately $67 & period09;
The post titled “Z EC Soars To Three Year High Eyes Next As Demand Spikes” originally appeared BeInCrypto website;