Can Zcash reach $620 before the wave of interest in Cypherpunk Technologies' ZEC fund?

Zcash (ZEC) is leading the rebound trend in the cryptocurrency market on Friday’s trading session, after surging 12% in just 24 hours, pushing this coin’s weekly gains to nearly 25%.

The rapid breakout of this security coin is accompanied by an impressive increase in social media engagement for Cypherpunk Technologies (CYPH), the fund company holding ZEC. According to data from the analytics platform LunarCrush, engagement levels reached 47.1K, up 261% compared to the daily average.

Additionally, Cypherpunk Technologies has welcomed Zcash co-founder Zooko Wilcox as a strategic advisor. The company previously raised $58.8 million through a private placement in November and also spent $50 million to purchase 203,775 ZEC.

CYPH closed Thursday’s trading session with a 9.7% increase, according to data from Google Finance. The growth of ZEC and related entities marks an impressive recovery step after the sharp decline in the cryptocurrency market, following the hawkish interest rate cut decision by the Federal Reserve (Fed) early Thursday morning. Other top coins, including Bitcoin, Ethereum, and XRP, are also gradually regaining upward momentum in recent trading hours.

Zcash Price Forecast: ZEC could rise to $620 if it surpasses $485

Zcash recorded over $8.8 million in liquidations in the past 24 hours, with nearly $7 million coming from short positions, according to data from Coinglass.

ZEC/USDT 4-hour chart | Source: TradingViewCurrently, ZEC finds support at the bottom of the ascending triangle pattern but still faces strong resistance around the $472–$485 zone. If the price can close firmly above this zone, ZEC is likely to break out upward toward $620, based on the height measurement of the triangle and projecting from the potential breakout point.

Technical indicators also support the upward trend: the Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) have exited overbought zones, recording 62 and 72 respectively, opening opportunities for further recovery.

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