- Zcash price surged to $661 on the daily chart as open interest jumped to $1.13 billion.
- Zcash adoption continues, which has boosted the price in recent weeks.
Zcash (ZEC) continued with its strong price momentum this week, with open interest (OI) hitting new highs. In the past 24 hours, the price of ZEC surged more than 13% to over $661.
ZEC currently has a bullish outlook, which is supported by technical analysis. The coin is currently eying target levels above $750 if the momentum persists.
Zcash OI Hit New Highs
According to CoinGlass data, the ZEC open interest has rallied 21.02% over the past 24 hours to $1.13 billion, marking a new high.
The surging OI suggests new purchases and money flowing into the market, which could fuel the current ZEC price rally.
The long-to-short ratio for ZEC further added to the bullish price outlook. This ratio rose to 1.06 on Monday, November 10, 2025, reaching the monthly high. A long-to-short ratio value above one reflects bullish sentiment in the markets.
For ZEC, it means that more traders are betting on the rally of the privacy coin. The ZEC price has experienced a massive rally since the beginning of September.
As we reported last week, Zcash has surged more than 700% since September. Zcash was launched in 2016 by Electric Coin Company (ECC) as a fork of Bitcoin (BTC) with a mission to fix transactional privacy.
The recent ZEC price rally is largely driven by high-conviction holders who believe deeply in its privacy promise. Notably, over 86% of the ZEC daily volume now comes from shielded transactions.
Some experts have even argued that Zcash could replace Bitcoin due to its shielded wallet activity. The Zcash shielded pool recently closed at 4.9 million ZEC, making it now the largest it has ever been.
In a previous article, Arthur Hayes revealed that Zcash is now the second-largest liquid asset in his Maelstrom family office portfolio, after Bitcoin. This news quickly sparked another wave of interest in the privacy coin narrative.
What Next for ZEC?
As of this writing, the ZEC price is valued at $661, up 13.2% over the past 24 hours. This daily spike has pushed weekly and monthly gains to 71.38% and 147.6%, respectively.
Despite ZEC’s price momentum, some data suggest cautious investor sentiment. For instance, the spot and futures markets are showing signs that retail activity is potentially overheating.
Notwithstanding, the ZEC price has found support around the 161.8% Fibonacci extension, which could determine its next upward move.
Zcash could extend its rally toward the key psychological level at $750, as technical analysis supports this view.
The Relative Strength Index (RSI) on the daily chart moved to 83, above the overbought threshold, indicating strong bullish momentum.
Another key metric, the Moving Average Convergence Divergence (MACD), also suggests a bullish ZEC price rally. Notably, MACD showed a bullish crossover that remains intact, with rising green histograms above the neutral level.