Core Insights - Zcash (ZEC) has experienced a significant price recovery, surpassing the $500 mark, indicating renewed market interest after a period of compression [1] - The correlation between ZEC and Bitcoin has reached a two-month high, suggesting that Zcash is increasingly influenced by Bitcoin's price movements [2] - Investor sentiment around Zcash remains fragile, with market confidence at a multi-month low, which may limit further price rallies despite recent technical breakouts [4][5] Technical Analysis - ZEC has broken out of an ascending triangle pattern, confirming bullish intent, with current trading around $524 [6] - The ascending triangle pattern suggests a target price of $672, representing a potential 49% gain from the breakout point and approximately 27% upside from current levels [7] - A drop below $500 could lead to a deeper pullback towards $442, which would invalidate the bullish breakout signal [8]