Zcash Jumps 30% After Ceasefire — But Bull Trap Risk Emerges ⚠️📈

Zcash surged more than 30% following a US–Iran ceasefire announcement, leading a broader relief rally across risk assets. The privacy coin climbed to around $336, outperforming rivals like Monero and Dash, which posted smaller gains.

However, analysts warn the move may resemble a 2021-style bull trap. Technical patterns show ZEC still trading under a descending resistance trendline, with the rally potentially stalling near the $370 region. Failure to break higher could trigger a pullback toward the $197–$200 support zone, implying downside risk of up to 40%.

Liquidation data also highlights vulnerability below current levels, with over $50 million in leveraged long positions at risk if price drops under $260. This imbalance suggests markets could move lower to clear those positions before any sustained upside, making the recent surge fragile unless bulls secure a decisive breakout.

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