Cryptocurrency experts name a digital token that is growing despite the global decline in the crypto market

The cryptocurrency Zcash (ZEC) is showing rapid growth as interest in the so-called «private coins» has increased sharply amid market volatility. In recent weeks, the token has added more than 65%, which has allowed it to stand out among other altcoins. Analysts note that the main advantage of ZEC is its almost independent behavior from bitcoin, which avoids large-scale sales that often cover the entire market.

Currently, the correlation between Zcash and Bitcoin is -0.78, meaning that ZEC is moving in the opposite direction to BTC. This dynamic is beneficial as bitcoin is trading near $ 90,000 after several days of decline. The negative correlation, which has persisted since early November, strengthens ZEC’s stability and reduces risks for investors during wave drops in the market.

According to analytical liquidation maps, if the price of ZEC rises to $ 788, it could result in the liquidation of short positions worth about $ 51 million. This amount of potential losses for short players often provokes a wave of forced buyouts, which, in turn, can increase the price growth. That is why analysts advise avoiding short positions during the current momentum.

At the time of publication, Zcash is trading at $ 671, where $ 700 remains a key resistance level. If the market remains positive, the price may rise to $ 1,000, which is 49% higher than the current value. To do this, ZEC must consistently gain a foothold above $ 700, $ 800, and $ 900, turning these levels into support zones.

However, if the pressure from sellers increases, ZEC may lose momentum and fall to $ 600, and in the case of a deeper correction, to $ 520. This, according to analysts, could destroy the current bullish scenario and temporarily limit further growth of the coin in late November.