Zcash price jumps as token buying pressure builds

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Zcash surges 11.26% today to $470.62

Highlights

A critical vulnerability in Zcash's Orchard shielded pool allowed potential undetectable coin creation, prompting emergency protocol updates and a hard fork in early June.
Audits found no exploitation or inflation, and the upcoming Ironwood upgrade aims to improve supply transparency and security with enhanced AI-assisted audits.
ZEC/USD faces medium-term resistance near $496, with high projected five-day volatility and an 80% probability of continued upward movement within the $378.57–$515.62 range.

Security overhaul and soft fork after unexploited critical vulnerability

A critical vulnerability was discovered in Zcash's Orchard shielded pool that could have allowed unlimited counterfeit coin creation without detection. Emergency patches and a soft fork were deployed on June 1, followed by a full hard fork on June 3, with audits confirming no exploitation or supply inflation. The Zcash team is now preparing the proposed Ironwood upgrade to further increase supply transparency and implement additional security measures, including more AI-assisted audits.

Anton Kharitonov, expert at Traders Union, sees Zcash’s technical posture as mixed. The price stays above its long-term averages, but persistent pressure below the 20-day SMA highlights ongoing seller dominance in the medium term. The recent vulnerability in the shielded pool raises concerns about trust, even if exploitation was avoided. Kharitonov notes supply transparency and security remain open issues as new upgrades roll out. He states, "Short-term consolidation is likely, but confidence could erode quickly if further security lapses emerge."

Viktoras Karapetjanc, expert at Traders Union, highlights the decisive recovery in market confidence after swift resolution of the Orchard shielded pool flaw. He views Zcash’s proactive response and upcoming Ironwood upgrade as clear signals of commitment to security and innovation. Karapetjanc believes strong weekly indicators and positive sentiment set the stage for sustained upside. He says, "The bullish structure remains intact — I expect further growth and see this as a key opportunity for buyers."

Medium-term resistance in focus amid long-term bullish momentum

ZEC/USD is trading above the 200-day Simple Moving Average ($375.20) and well above the 50-day SMA ($503.83) but remains below the 20-day SMA ($496.25), reflecting ongoing medium-term pressure from sellers amid long-term support. Key resistance is identified near $496 (MA-20), with Ichimoku Kijun at $470.06 closely matching current levels, suggesting a potential pivot area.

Previously it was reported that Zcash was under persistent bearish momentum and volatility, even as developers responded swiftly to a critical protocol vulnerability. The current backdrop adds momentum to the recovery narrative, with volatility bands widening and traders advised to track the $496 resistance as a near-term pivot for possible breakout continuation.

Source of Data: ZEC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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