Zcash (ZEC) held above $1,600 on September 23 after ranking among the strongest-performing major crypto assets during September, with the privacy-focused token up more than 70% over the past 30 days. Technical analysis places the next major resistance band around $1,560–$1,615, with $1,800 sitting inside the wider upside range.

The price strength coincided with expanding institutional access to the asset. 21Shares launched a physically backed Zcash ETP on Euronext Paris and Amsterdam this week, while Grayscale's U.S.-listed Zcash ETF received a $100 million investment from Digital Currency Group earlier this month. Products of this kind let investors gain exposure to a token's price through ordinary brokerage accounts, a structure that has become a common bridge between traditional finance and crypto markets.

ZEC traded near $1,492 on September 22, according to market data, after touching an intraday high close to $1,569, and remained above $1,500 a day later following a seven-day gain of more than 30%. Earlier in the month, the token changed hands near $953 before accelerating beyond $1,000, $1,250 and $1,500.

The advance followed a bullish pennant breakout identified earlier in September. That pattern initially pointed toward $1,000 before its successive targets moved higher as the rally extended.

ZEC Tests Resistance Near $1,600

Immediate resistance sits around $1,560–$1,585, and a daily close above roughly $1,582 would strengthen the case for another move higher. Above that zone, traders are watching the $1,600–$1,615 area, where liquidation data showed concentrated short liquidity near $1,605–$1,610 — clustered positioning that can act as a volatility accelerant when price approaches those marks.

If ZEC clears those levels, $1,700 becomes the next intermediate zone, with the broader technical range extending toward $1,800–$1,850.

Crypto trader RookieXBT said on X that ZEC "looks like" it is heading toward $1,800, adding that the move would happen "privately." His message reflects a technical view rather than a confirmed price outcome:

$ZEC looks like it's going to head towards $1800 privately pic.twitter.com/hdMo49FHHQ

— RookieXBT 🧲 (@RookieXBT) September 22, 2026

Momentum remains strong across several widely followed indicators. ZEC continues to trade well above its major short-, medium- and long-term moving averages, while relative strength index (RSI) readings around 67–70 show momentum is still elevated. Other oscillators, including the Stochastic and the Commodity Channel Index (CCI), are also printing high readings after the recent advance.

21Shares Launches European Zcash ETP

21Shares launched a physically backed Zcash exchange-traded product (ETP) on Euronext Paris and Amsterdam. The product trades under the ticker ZCASH and charges an annual fee of 2.5%, giving brokerage investors exposure to ZEC without requiring them to hold the token directly. The underlying cryptocurrency is held through institutional custody arrangements, meaning investors do not need to manage wallets or private keys on their own.

Announcing the debut on X on September 22, 21Shares described the product as the first Zcash ETP available to European investors:

Privacy has a new ETP. 🛡️ The 21shares Zcash ETP ( $ZCASH ) is now live on @Euronext Amsterdam & Euronext Paris — the first Zcash ETP available to European investors. Built on Bitcoin's foundational monetary architecture that fixes its supply cap at 21 million coins, Zcash… pic.twitter.com/VghPDAp1BK

— 21shares (@21shares) September 22, 2026

The European launch follows the August debut of Grayscale's Zcash ETF on NYSE Arca, a U.S.-listed product providing direct exposure to ZEC. Digital Currency Group, Grayscale's parent company, invested about $100 million into the fund on September 8, making it an affiliated investment. Taken together, the two products give ZEC exchange-listed wrappers in both European and U.S. markets.

21Shares also said the privacy-coin sector had expanded from roughly $6.2 billion to about $30 billion over the course of one year — roughly a fivefold increase in a segment built around transaction privacy. Its September research placed Zcash at around $20 billion in market value at the time.

As of September 23, ZEC remained above $1,500 after gaining more than 30% over the prior seven days, leaving the token among the month's stronger performers major crypto assets. Its next technical tests sit at the $1,585 and $1,615 areas before the $1,700–$1,800 range comes into view.

Source: CoinCentral