Zcash (ZEC) stabilized over the past 24 hours as the recent privacy-coin rotation that fueled sharp rallies in Monero (XMR) and Dash (DASH) earlier this week began to lose momentum.
The ZEC/USD pair rose by around 5.50% in a day, while reaching an intraday high of approximately $449. Nonetheless, the pair was down by over 20% from its January top of $535.69.
Its recovery coincided with corrections in XMR and DASH prices from their respective local tops. These privacy assets had rallied 45% and 138% earlier this week, respectively, as traders rotated out of ZEC trades due to a mounting governance crisis concerning Zcash.
The relative strength index of Monero and Dash crossed into overvaluation territories above 70, thus raising the odds of profit-taking among short-term traders. XMR dropped by over 13.50% from its local top of around $800, while DASH corrected by 14.22% from its $88.39 sessional high.
As of Thursday, the ZEC/XMR ratio was trying to base above its 50-week EMA (~0.57).
The week’s candle printed a clear rejection from below that level (low near ~0.56) before reclaiming it into the close (~0.60), which keeps the immediate bias from turning outright bearish on the ratio.
However, the rebound is still early: the pair remains well below its 20-week EMA (~0.83), leaving the current move best framed as a support defense rather than a confirmed trend reversal.
A clean weekly hold above the 50-week EMA followed by follow-through would shift focus toward the ~0.80–0.85 area (20-week EMA). Conversely, a breakdown back below ~0.57 would expose the 200-week EMA near ~0.51.
If ZEC/XMR continues to firm while XMR cools, that relative bid can translate into ZEC/USD revisiting $450 or higher levels in the near term, assuming broader market conditions remain stable.
From a technical perspective, ZEC/USD has been consolidating within a symmetrical triangle after its sharp rally to a multiyear high near $775 in November.
The pattern reflects a period of compression, with lower highs pressing against rising support, as volatility contracts following the prior impulse move.
Symmetrical triangles are typically viewed as continuation patterns, meaning breakouts tend to resolve in the direction of the preceding trend.
Conversely, a decisive breakdown below the triangle’s lower boundary would invalidate the continuation thesis and expose ZEC to a deeper retracement below $200 in Q1 2026.
Yashu Gola is a crypto journalist and analyst with expertise in digital assets, blockchain, and macroeconomics. He provides in-depth market analysis, technical chart patterns, and insights on global economic impacts. His work bridges traditional finance and crypto, offering actionable advice and educational content. Passionate about blockchain's role in finance, he studies behavioral finance to predict memecoin trends.