Puntos clave:
Zcash's 9-day moving average crossed above its 21-day moving average, signaling a potential bullish trend reversal.
A similar crossover in April preceded a 185% rally that carried ZEC from roughly $240 to a June peak near $684.
Placeholder CEO Chris Burniske recently described Zcash as the "most credible complement" to Bitcoin among internet-native hard-money assets.
Zcash (ZEC) flashed a bullish "golden cross" on its short-term chart on Monday, with the shorter-term moving average crossing above the longer-term one, as the privacy coin rebounded sharply from June's lows — a setup crypto investor Chris Burniske says makes ZEC the closest thing to Bitcoin's "hard money" appeal.
According to the chart, Zcash's nine-day moving average has moved above its 21-day moving average, with ZEC trading around $511, above both lines, after bottoming out between $340 and $400 in late June and early July.
The setup mirrored a classic Moving Average Convergence Divergence (MACD) bullish crossover, where a shorter-term average overtaking a longer-term one is typically read as a signal that near-term momentum is turning positive.
Is April Repeating Itself?
This was similar to the scenario seen in late April, when a similar MACD crossover preceded ZEC’s rise from around $240 to its June top near $684. The histogram bars were much smaller this time around, however, indicating that the momentum shift had been more moderate so far. During the June sell-off, the indicator fell to around -30 before this recovery began, so traders will likely watch to see whether the MACD line can hold above zero.
Zcash As Bitcoin's Closest Complement
Separately, Chris Burniske, co-founder of crypto venture firm Placeholder VC, called ZEC "the most credible complement to $BTC" among internet-native hard monies on Sunday.