Zcash (ZEC) continues to trade within a bullish macro structure despite its recent pullback, with analysts viewing a potential liquidity sweep as a reset before another advance. Rising market activity and growing ZEC-backed borrowing add further support to renewed demand, and a breakout could reinforce the broader bullish outlook.

At the time of writing, ZEC is trading at $811.83, with a 24-hour trading volume of $630.89 million and a market capitalization of $13.67 billion. Although the token is down 2.1% over the last 24 hours, its price structure and network growth point toward a bullish reversal, according to CoinMarketCap data.

Zcash, launched in 2016, is a privacy-focused blockchain that uses zero-knowledge proofs (zk-SNARKs) to allow shielded transactions, distinguishing it from fully transparent chains like Bitcoin. Its renewed market prominence comes after years in which privacy coins faced delistings from major exchanges and regulatory scrutiny in several jurisdictions, making the current level of trading activity and lending demand a notable shift for the asset.

ZEC Eyes $900 as Bullish Setup Holds

According to crypto analyst Eric Van Tassel, ZEC continues to display a bullish macro structure despite its recent pullback, with the cryptocurrency potentially entering a liquidity sweep toward the $760–$694 zone (Eric Van Tassel's X post).

This area aligns with previous resistance and the upper boundary of the broader ascending triangle, which makes a successful retest potentially important for confirming the breakout and resetting elevated daily RSI momentum.

A swift plunge into this territory, however, is not expected to undermine the bullish bias if ZEC promptly manages to retake this area. Such a dip could create better liquidity conditions and serve as a base for the next move to the upside toward the resistance between $887 and $900. A positive reaction to CPI data could act the trigger, as inflation prints have historically shaped risk appetite across crypto markets alongside equities.

Zcash Liquidity Recovers as Lending Grows

Data from Rhea Finance highlighted that ZEC has once again come under active market participation, with its trading volume rising by more than $15 million within 24 hours.

In addition, 4,520 ZEC has been supplied as collateral for stablecoin borrowing, indicating growing demand for liquidity backed by ZEC holdings without holders having to sell them off. This mirrors a broader DeFi trend in which crypto holders increasingly use their assets as collateral rather than liquidating positions, a practice that became widespread during past market cycles.

$ZEC 24-hour volume has climbed back above $15M, surpassing our previous update. Followed by 4,520 $ZEC has been supplied as collateral to borrow stable-coins. In response, RHEA is raising the $ZEC market utilization rate to 70% by 1st September 2026 12PM UTC — Rhea Finance (@rhea_finance) August 31, 2026

Rhea Finance has also raised the utilization rate for ZEC from 30% to 70%, meaning the liquidity provided can support more lending activity. The move may improve capital efficiency and make more stablecoins available to borrowers, though higher utilization could mean less available liquidity during periods of volatile ZEC prices.

What Comes Next for ZEC?

The next key step for ZEC is a test of the support zone between $760 and $694. A successful test could see bulls return to the market, potentially driving the price back toward the $887–$900 region. A break above $900 could signal further upward movement. Beyond price levels, the growth of ZEC-backed lending on platforms such as Rhea Finance suggests the asset is developing a wider utility footprint in DeFi, which market participants often monitor alongside chart structure when assessing sustained demand.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.