ZEC Soars to 3-Year High, Eyes $90 Next as Demand Spikes

Core Insights - ZEC, a privacy-focused cryptocurrency, has surged 47% in the past week, reaching a 38-month high, indicating a strong recovery in the broader market [2][7] - The social dominance of ZEC has increased significantly, climbing by 458% in the past three days to a three-year high of 0.51%, suggesting growing interest and engagement within crypto communities [2][3] - Positive momentum indicators, including the Balance of Power (BoP) at 0.75, suggest that buying pressure is increasing, which may lead to a sustained rally for ZEC [4][5] Price Movement - ZEC is currently trading near a key support level at $79.21, with potential upward movement towards $98.80 if demand continues [6] - Conversely, if profit-taking occurs, ZEC could drop below the support level and fall towards $67.09 [7] Market Sentiment - The increase in ZEC's social dominance indicates heightened retail attention and speculative interest, which historically correlates with short-term price boosts [4][3] - The combination of rising social engagement and positive market indicators supports the outlook for further price increases for ZEC [4][5]