Zcash (ZEC) Price Soars above $221, Drops after Correction

Key Highlights

• Zcash has witnessed a spike of 2.88% and is trading at around $214 following the spike in BTC price
• This upward momentum in the privacy coin was seen after receiving $25 million in the latest seed funding round
• Shielded transaction volume rising, new U.S.-based compliant mining pool coming from Foundry Digital in April

On March 13, Zcash ($ZEC), one of the leading privacy cryptocurrencies, witnessed an upward momentum, where it soared above $221; however, it quickly faced a correction and plunged below $214.

While publishing this, the Zcash price is revolving around $213.66 after soaring by 1.6% on a daily chart with a market capitalization of $3.5 billion, according to CoinMarketCap.

Why Is Zcash Price Soaring?

There are many developments behind the spike in Zcash ($ZEC), including fresh funding in the recent seed funding round.

On March 9, the Zcash Open Development Lab (ZODL), a new company formed by the core developers who left Electric Coin Company after a governance shake-up, announced it had raised over $25 million in seed funding. Major companies like Paradigm, a16z crypto, Coinbase Ventures, Winklevoss Capital, and others jumped in.

The fresh capital will boost the development of the Zcash protocol and the user-friendly Zodl wallet (formerly Zashi), which makes private transactions easier for its users.

The Relative Strength Index (RSI) is currently sitting around 42 to 55 on the 14-day chart. According to this indicator, below 30 means oversold, or potentially too cheap, while above 70 means oversought, or getting too hot. At around 45, $ZEC is nicely balanced, not exhausted. It has plenty of room to run higher without a big pullback.

Looking at moving averages, the short-term 50-day moving average is revolving near $210 and $212. This is acting as a safety net that buyers are defending.

The longer 200-day moving average is higher and trending up, which shows that the overall direction is still positive after last year’s massive gains. Recent price movement has bounced off support around $200, which is a classic bullish signal.

According to other technical indicators, Fibonacci levels are like natural pause exports that the price often respects. From the recent low near $200, $ZEC is now testing the 23.6% Fibonacci retracement.

It breaks through the next level at $220 to $230, which is the 38.2% Fib level. Analysts say that the next stop could be $250 to $278. This would show a quick 15% to 20% gain from current levels.

This news sparked instant excitement, and investors are seeing ZODL as a fresh start for Zcash’s privacy tools at a time when people are increasingly worried about surveillance and regulations.

On-chain data is showing healthy inflows, which have been growing steadily. Additionally, major institutions are joining the party. Foundry Digital is launching a U.S.-based Zcash mining pool in April 2026, which is aimed at companies that want compliant privacy mining.

Popular analysts are bullish on the short-term momentum. The ZODL funded “a fresh wave of capital” that is already attracting new buyers. MEXC analysts noted that social activity and engagement are up sharply. CoinCodex sees neutral-to-bullish shows and predicts $ZEC could push toward $230 and beyond soon if resistance breaks.

According to some experts, there are some predictions that say it could see a breakout of $300 to $600 if privacy demand continues to rise.