ZCash has recently released one of the most important system updates significant for the improved security and functionality within the ZCash network.
Sapling release is probably the main factor regulating the price of ZEC above the value of 100$ as the 19th largest currency is currently trading at 125$ after the latest rise of over 4% in a single day.
The first days of November are obviously in the sign of positive momentum and positive market trends, that way helping cryptocurrencies to recover from the past commonly established dips.
As the year of 2018 is coming to an end, we are wondering if ZCash could reach the price of 150$, still away from its record price of over 4,000$ as achieved back in October 2016.
ZCash Price Prediction: Can ZEC Break the Resistance of 150$ at the Current Momentum?
ZCash is one of the most popular and top prominent currencies in the crypto market alongside being one of the most respected privacy coins.
Thanks to zk-SNARKS, ZCash became a well established digital asset years ago, also setting a record price of over 4,290$ per one ZEC unit back in October 2016.
However, ZCash declined severely since making it to its record price, dropping by over -96% in the course of the last two years.
ZEC set another all-time high back in January 2018 with a mass bull run that took over the market at the time, heading above the initial price of 800$.
While it is an evident case that ZEC is not coming back to 4,000$ any time soon based on its current pace of growth, the most realistic goal for the end of 2018 would be a price of 150$ per one unit.
ZCash Might Have Some Difficulties with Going above 130$
When taking into consideration the fact that ZCash has had a rather turbulent period over the last couple of months ranging from 108$ to 130$, it is hard to say whether ZEC will continue to go up or down once the rebound period is over.
For the past couple of days, the crypto market has been going through a mass recollection of gains, having ZEC going up by almost 10% in the course of the last seven days.
However, ZCash is still dipping on its year to date chart, as it is going down by over -40% against the fiat.
While Sapling update provided enough momentum to stir things up in the market and push ZEC up against the dollar, ZCash seems to be steadily headed towards acquiring the next price goal of 130$.
Zcash (ZEC) Price Today – ZEC / USD
In case ZEC would continue at this pace of growth, the price of 150$ by the end of the year wouldn’t seem as unrealistic.
But, the lack of mass adoption and delaying the mainstream acceptance of the currency could damage its movement in the market and against the fiat, which might cause the price to decline.
Even though ZEC is seen dropping on its monthly charts, as well as on YTD chart, ZEC most recently reentered the top 20 list of trading currencies, which is a good sign for ZCash.