Privacy coin Zcash (ZEC) is continuing its rally, recovering the $1,300 level. On the 22nd, Zcash rose 2.98% to $1,304, and the market is increasingly focused on whether the $1,251 support will hold, along with the possibility of reaching $2,000.

Within the cryptocurrency community, expectations of continued gains and the possibility of a short-term correction are being raised simultaneously. Trader Watermelano of the CoinMarketCap community analyzed that Zcash's uptrend is continuing and stated that he is maintaining his long position.

According to the details he shared, his average entry price is $1,087.02 and his target price is $2,000. His stop-loss price is set at $1,086.77, nearly identical to his entry price. The trading screen showed Zcash at $1,356.19 with an unrealized return of 24.76%, but this is only a snapshot at a specific point in time and does not reflect the current price or real-time returns. The trading prices he cited at the time of posting were approximately $1,347.8 on Kraken and approximately $1,348.4 on OKX, while the price confirmed later was $1,304, lower than at the time of the post.

The notable point is the upward path. Watermelano claimed that after Zcash bottomed near $1,048 on the 19th, it climbed step by step through $1,126, $1,191, and $1,341. He interpreted this as a gradual uptrend rather than a one-off surge. However, this price path is the poster's own analysis, and whether it precisely matches daily closing prices on each exchange requires separate verification.

He assessed that privacy coins have recently shown relative strength, moving differently from major cryptocurrencies. Privacy coins are cryptocurrencies focused on limiting the disclosure of transaction information or strengthening the protection of transacting parties' personal data, and Zcash is a representative project offering shielded transactions using zero-knowledge proof technology. However, whether privacy coins as a whole are rising together and whether Zcash is leading the market should be judged through comparison of prices and trading volumes of related assets.

A balanced view was also presented regarding risks. Watermelano identified the 24-hour low of $1,251 as the first buy support level to defend. From the current price of $1,304, the distance to $1,251 is $53 (a decline of about 4.06%), while reaching $2,000 would require a further gain of $696 (about 53.37%). Given the large gap to the target, the $2,000 outlook should be viewed as a personal scenario assuming a strong continued rally.

In particular, cryptocurrencies that have surged sharply can experience expanded volatility due to short-term profit-taking and leveraged position liquidations. If the price falls below $1,251, the credibility of the bullish scenario could also weaken. Raising the stop-loss to near the entry price is a risk management strategy, but it cannot eliminate the possibility of losses from sharp price swings or execution slippage. He also stated that he would not add to his current position.

Ultimately, Zcash's future trajectory depends on whether it can hold the $1,251 level and whether the recent rally is sustainable. Although the $2,000 bullish forecast has emerged, the actual price may vary depending on trading volume, buying and selling pressure, and overall market sentiment.

[This article is intended to provide information for investment reference purposes and does not recommend buying or selling any specific asset. Conditions may change depending on market circumstances. Investment decisions and the responsibility for them rest with the investor. AI assisted in part.]