Zcash (ZEC) price prediction: soaring against the trend by 109%, targeting a goal of 338 USD.

Zcash (ZEC) has shown strong performance recently, with its price soaring by 109%, making it one of the leaders in the crypto market. Notably, the price correlation between Zcash and Bitcoin has dropped to an astonishing 0.02, indicating that this Privacy Coin is almost completely decoupled from the fluctuations of Bitcoin, entering an independent market trend. Although ZEC is trading at $266, its liquidation chart shows that falling below the $224 support level could trigger approximately $9 million in liquidation risk. If buying momentum continues, ZEC is expected to break through the $290 resistance, extending its rise to $338.

Privacy Coin Zcash Independent Market: Correlation with Bitcoin Drops to Freezing Point

The extremely low correlation between Zcash prices and Bitcoin allows it to break free from the influence of market leaders, showcasing a strong independent trend driven by its own internal conditions.

· The correlation has almost completely decoupled.

The correlation between Zcash and Bitcoin has fallen to 0.02, indicating that the price movements of ZEC are almost entirely unaffected by the fluctuations of the world's largest cryptocurrency, Bitcoin. This independence allows ZEC to operate based on its own market conditions.

· Potential reverse movement

If the correlation falls below zero, Zcash will officially begin to fluctuate inversely with Bitcoin. Given the recent stagnation of Bitcoin, this reverse movement is seen as an extremely favorable signal, reinforcing Zcash's outstanding performance during complex market sentiment.

· Strong performance that deviates from the overall trend

The independence of Zcash makes it a highlight in the current market. In a scenario where market sentiment is mixed and Bitcoin's volatility fails to dominate the overall trend, the rise of ZEC is entirely driven by its own strong fundamentals or trading demand.

Potential liquidation risk: $224 support level is critical

Despite the rapid rise of ZEC, its quick increase also brings the risk of liquidation and the possibility of short-term correction, and traders should be wary of key support levels.

· The clearing chart reveals potential risks

The liquidation chart of Zcash shows a potential risk: if the price falls below its recent support level of 224 USD, it could trigger approximately 9 million USD in liquidations. This means that traders holding leveraged positions may face significant losses during minor corrections in the market.

· Possibility of short-term pullback

The recent surge may also indicate that ZEC is approaching a short-term saturation point. As the asset records higher profits, investors may begin to take profits, which often leads to a moderate correction. If profit-taking accelerates, liquidations may intensify volatility and create short-term downward pressure.

· Current trading range

At the time of writing, the trading price of ZEC is $266, stabilizing above the support level of $224, but facing resistance at $290. ZEC may consolidate within the current range to solidify its recent rise.

Technical Outlook: Impact $338 or fall back to $176

The short-term price trend of Zcash depends on whether it can break through the key resistance level or whether it will be corrected due to large-scale profit-taking.

· Bullish scenario: Aiming for 338 USD

If the bullish momentum continues, Zcash may break through the resistance at 290 and aim for 338, further expanding the rise. This move would confirm strong investor confidence and solidify ZEC's breakout from Bitcoin's influence.

· Bearish scenario: risk at 176 dollars

However, a shift in market sentiment or large-scale profit-taking could push ZEC below $224, leading to forced liquidations and potentially falling to $176. This decline would invalidate the bullish outlook and highlight the risks associated with rapid rises in a high Fluctuation market.

Conclusion

Zcash has recently achieved an astonishing 109% rise and has almost completely decoupled from Bitcoin, demonstrating its independent market value as a Privacy Coin. This independent trend reinforces the potential driven by ZEC's own factors, making it a focal point worth following in the current market environment. Nevertheless, the liquidation risk accumulated due to the rapid rise in the short term cannot be ignored, and the support level at 224 USD is a key line determining whether ZEC can further push towards 338 USD or fall into a deep correction.

This article is for news information only and does not constitute any investment advice. The crypto market is experiencing significant fluctuations, and investors should make cautious decisions.