Zcash gained 9% to above $215 but faces resistance and could dump hard.
The altcoin rose amid Bitcoin’s rebound to above $69,000 on Monday.
Privacy coin narrative and venture funding have helped ignite ZEC’s uptick.
Zcash (ZEC) rose nearly 9% after bouncing from recent lows, placing the token among the top gainers among the 100 largest cryptocurrencies by market capitalisation.
The privacy-focused coin retested resistance above $215 as altcoins broadly posted modest gains over the past 24 hours.
Sentiment improved after Bitcoin climbed above $69,000, helping lift the wider market.
ZEC advanced alongside other privacy-oriented tokens, including Tornado Cash, Oasis Network, and Dash.
Monero (XMR) also recorded gains, with the token rising nearly 3% over the past 24 hours.
What could help Zcash price higher?
While the broader market rebound has supported Zcash (ZEC), other factors may also be contributing to the token’s recent bounce.
ZEC appears to be drawing momentum from a new report by the United States Department of the Treasury, which acknowledged that crypto privacy tools such as token mixers can serve legitimate purposes.
The report states that such tools may be used for “legitimate financial privacy purposes,” marking a shift in tone from previous official positions regarding mixers and other privacy-focused technologies.
“Lawful users of digital assets may leverage mixers to enable financial privacy when transacting through public blockchains,” the Treasury said in its report to Congress.
The token has also benefited from ecosystem developments.
The team behind a new Zcash-powered mobile wallet recently secured $25 million in a funding round backed by several venture capital firms active in the digital asset sector.
Zcash Open Development Lab (ZODL) has secured over $25 million in funding from a16z, Paradigm, Winklevoss Capital, Coinbase Ventures, Cypherpunk Technologies, Maelstrom (family office of Arthur Hayes), Chapter One, David Friedberg, Haseeb Qureshi, Mert, Balaji and others.
If you… https://t.co/yeTadbUCR5 pic.twitter.com/PyisPQLWVJ
— Josh Swihart 🛡 (@jswihart) March 9, 2026
According to ZODL, the backing “signals strong investor confidence” in shielded ZEC transactions.
Players that participated in the funding include Paradigm, a16z crypto, Winklevoss Capital, and Coinbase Ventures.
Others were Cypherpunk Technologies and Arthur Hayes’ family office, Maelstrom.
Josh Swihart, the former CEO of Zcash developer Electric Coin Company (ECC), founded Zodl (formerly Zashi) in 2024.
Zcash price: breakout or dump below $175?
Zcash (ZEC) was among the standout performers in the privacy-focused segment of the crypto market in 2025.
The token rallied from lows near $50 in September to a peak of about $700 by mid-November.
However, the gains proved difficult to sustain as the broader market turned lower.
As Bitcoin declined and the wider crypto market followed, ZEC retraced sharply, slipping to below $220.
The token fell further to around $184 on February 5, 2026, during a broader market sell-off that coincided with the departure of core developers from Electric Coin Company (ECC).
Following the sharp downturn, ZEC is currently down about 58% on a year-to-date basis.
Zcash price chart by TradingView
The daily chart indicates that Zcash (ZEC) has rebounded from a key support level near $200.
If upward momentum strengthens, the token could test initial resistance in the $290–$300 range, with a potential move toward $400 if buying pressure persists.
The relative strength index (RSI) has turned higher around the 50 level, suggesting the possibility of continued bullish momentum.
However, the moving average convergence divergence (MACD) points to weakening upside strength, which could give sellers an opportunity to push the price back toward recent lows.
On the downside, ZEC could decline to levels last seen in October 2025 if bearish pressure intensifies.
A decisive close below $175 may open the door to further losses, with the next key support level around $120.
