Zcash nears $700 resistance after SEC closure, ETF filing

The cryptocurrency Zcash (ZEC) has surged to approach a key resistance level near $700, marking a dramatic recovery of over 240% from its low earlier this year. The rally, which included a gain of more than 40% in a recent week, has brought the privacy-focused digital asset to a critical technical juncture last tested in late 2025.

The upward move follows several significant developments. The U.S. Securities and Exchange Commission recently closed its investigation into the Zcash Foundation without recommending enforcement action, a move viewed as providing regulatory relief. Institutional interest has also grown, highlighted by Grayscale filing to convert its Zcash Trust into a spot exchange-traded fund (ETF). Furthermore, on-chain data indicates a tightening of available supply, with a significant portion of ZEC's circulating coins moving into privacy-focused shielded pools.

Technically, the asset is now testing a major supply zone between $680 and $730. Analysts note this region previously triggered a sharp price rejection. A decisive breakout above this resistance could open a path toward higher price targets, with some projections extending toward the $900 region based on...