ZEC price is extending its recent recovery as buying momentum keeps the privacy-focused cryptocurrency moving higher. Crypto analysts highlighted the strength of the move and identified $1,800 as the first target to watch as Zcash continues to gain ground.
The rally has also brought a sharp increase in market attention. Santiment data showed that Zcash social volume reached its highest level in a month on September 17, with activity on X rising far more than on other tracked platforms. The combination of stronger price action and increased social attention puts ZEC’s next resistance levels in focus.
ZEC Price Targets $1,800
The most recent price setup for ZEC is around the $1,800 mark mentioned in the Ali Charts. According to the analyst, Zcash still climbs higher as the strength of its momentum remains high as it approaches the first target.
This level is important since it will provide traders with a solid benchmark regarding the current rally. Rallying towards $1,800 will build on the recovery theme and keep the technical bullish setup on the radar, but a loss of strength ahead of that level can alter the short-term dynamics.
Source: Ali Charts X Post
Price momentum, and not the fundamental assessment of Zcash, is the key factor considered by Ali Charts. The $1,800 level is merely a technical target under observation by the analyst and does not imply the price level will necessarily occur.
The recent move also came amidst the rising interest in ZEC. The Zcash dashboard from Santiment provides a comparison of both social volume and social dominance metrics along with the price, allowing traders to compare changes in market discussion with price action.
Santiment Data Shows X Driving ZEC Attention
The recent data from Santiment adds more insight to the ZEC rally. The social volume of Zcash hit its peak in one month on September 17; however, the spike was dominated by activity on X.
As per Santiment, the X references of ZEC were 6.8 times more than its 29-day average baseline on September 17. The activities on other platforms monitored by Santiment amounted to around 1.7 times more than their baseline.
Source: Santiment Intelligence
This has greatly affected the pattern in which Zcash is discussed. On September 17, X was responsible for about 85% of ZEC references, compared to 59% during an ordinary day.
What makes the above-mentioned data unique is the fact that the rise in social attention did not happen equally on all social networks of the crypto market. It turned out that the majority of increased attention came from just one of those social networks.
Santiment’s social volume indicators measure social interest in a given asset on crypto social networks, providing a way to track changes in attention alongside price movements.
Also Read: Zcash Developers Target November 5 for NU7 Upgrade With 25-Second Blocks
What Could Happen to ZEC Next?
The $1,800 price level is still the primary objective in the current price analysis of ZEC. In order for the present setup to hold, it would be interesting to see if the bullish movement of Zcash can continue towards that price level.
Further progress would ensure that the focus would remain on $1,800 and possibly help prolong the ongoing recovery. In contrast, any sudden slowdown or reversal would redirect the attention to the support levels created in the most recent move.
Another element to consider would be the social activity. If ZEC continues to receive a lot of mentions across multiple platforms, it would signal a higher level of market interest. Otherwise, if the surge occurs mainly on platform X and then dissipates, the current social buzz might not persist.
Santiment’s wider data set indicates that Zcash has experienced periods of heightened social engagement during key price actions in its history. The historical data on ZEC social volume by Santiment aims at a comparison of social activity with the price and social dominance of Zcash.
Currently, the ZEC price structure is built up of strong upward momentum and social engagement. The $1,800 target price given by Ali Charts provides a level to watch for traders, but the wider picture provided by Santiment requires distinction between increasing market interest and participation.
Also Read: Zcash Price Analysis: Can $1,360 Breakout Push ZEC Toward Price Discovery?
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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