Will Zcash price go up as a bullish setup forms and shielded supply grows?

Zcash price has rallied over 20% in the past month, surpassing the $250 mark. Is the token set for higher gains as it has confirmed a bullish setup, while adoption for its shielded transactions continues to expand across the ecosystem?

Zcash ( $ZEC ) price rallied due to multiple fundamental and technical drivers that converged to create a perfect storm for the asset.

Zcash rallied as it secured fresh backing from institutions. Notably, the Zcash Open Development Lab, a key contributor to the network's development, announced securing over $25 million in seed funding from venture firms including Paradigm and a16z crypto on March 27, 2026. The funding will support the development of the Zodl wallet alongside other privacy-focused financial tools on the Zcash ecosystem.

Additionally, the total amount of ZEC held in shielded pools has hit a new record high of $5.17 billion at press time, a figure that equals over 31% of the total circulating supply.

A jump in shielded liquidity suggests that a greater number of holders are now using the core privacy features of Zcash, which translates to genuine utility and more demand for the token.

Zcash price analysis

On the daily chart, Zcash price has confirmed a falling wedge pattern formed of two converging and descending trends. Breakouts from such patterns have historically sustained upside for the related assets over the following sessions, suggesting that the current momentum is more than just a temporary spike.

In Zcash's case, the rally could potentially extend to $400, which aligns with the 38.2% Fibonacci retracement level.

Technical indicators appear to be favoring the bulls at the time of writing. The MACD lines were pointing upwards while the Supertrend flashed green, both indicating that the path of least resistance remains to the upside. These signals often attract momentum traders who look for confirmed trend reversals to enter new positions.

However, it should be noted that the Zcash rally could face some resistance at $317, a major resistance and support level that has historically acted as a pivot point for Zcash price.