Zcash surges 10%, leading altcoins! MYX Finance and Dash rally continues

In the past 24 hours, Zcash (ZEC), MYX Finance (MYX), and Dash (DASH) have been the best-performing assets among the top 100 cryptocurrencies. Privacy coin Zcash led the rally, gaining nearly 10% on Friday. MYX Finance has risen for the eighth consecutive trading day, and Dash is trading near $52.

Zcash V-Shaped Reversal Targets $550 Supply Zone

(Source: Trading View)

Zcash has risen nearly 10% in the past 24 hours, with bulls targeting the key $400 level. As of Friday’s press time, Zcash was up 5%, extending the previous day’s 8% gain. The privacy coin rebounded from the $300 psychological support on the daily log chart, forming a V-shaped reversal and printing three consecutive bullish candles.

The V-shaped reversal is one of the strongest reversal patterns in technical analysis, indicating a rapid and powerful rebound after touching support, without a prolonged bottoming process. This pattern usually occurs after an oversold bounce or major bullish news, showing extremely strong buying power. Zcash quickly rebounded from the $300 low to near $400, a near 10% gain in two days, which matches the typical characteristics of a V-shaped reversal.

This rally is approaching the 50-day moving average at $420, which acts as direct resistance. If Zcash can close above this level, the uptrend may continue toward the $550 supply zone. The 50-day EMA is the most commonly used mid-term trend indicator in technical analysis; when the price is above the 50-day EMA, it is generally considered a mid-term uptrend; below it, a downtrend. Zcash is currently testing this key threshold, and whether it breaks through will determine its mid-term trend.

There is about 31% upside potential from $420 to $550, and this target is not arbitrary. $550 is a key previous supply zone, meaning a large concentration of coins is held at this price level. When prices recover to this area, those who bought higher may sell to break even, creating selling pressure. Only if buying power is strong enough to absorb this selling can the price continue to rise.

The daily RSI is 42, trending upward toward the midpoint, suggesting selling pressure is easing. Meanwhile, the MACD is moving toward the signal line, indicating bearish momentum is weakening and a crossover may occur, signaling a resurgence of bullish strength. An RSI moving from low levels toward the midpoint of 50 often marks the exhaustion of downward momentum and the entry of buyers. The MACD is about to form a golden cross (the fast line crosses above the slow line), which is a classic buy signal.

Zcash Key Technical Levels

Current Price: Around $400

50-day EMA Resistance: $420

Breakout Target: $550 (Supply Zone)

100-day EMA Support: $323

RSI: 42 (Moving toward midpoint, bullish)

MACD: About to form a golden cross (bullish)

On the downside, if Zcash falls from $400, the 100-day moving average at $323 may provide support. This means that even if there is a short-term pullback, as long as $323 holds, the mid-term uptrend remains intact. But if it breaks below $323, the bullish structure of the V-shaped reversal will be destroyed, and a retest of the $300 psychological support is likely.

MYX Finance Eight-Day Rally Approaches 100-day EMA

(Source: Trading View)

MYX Finance continues to rebound, breaking through $3 and the 50-day moving average, and is approaching the 100-day moving average resistance. As of Friday’s press time, the MYX Finance token was up 4%, marking its eighth consecutive trading day of gains. Such an eight-day streak is extremely rare in the crypto market and usually signals a strong uptrend and sustained buying support.

MYX’s rebound is gradually approaching the 100-day moving average at $3.58, which serves as direct resistance. If the token breaks through this dynamic resistance, it could rally to $4.46, coinciding with the October 5 low. From the current price of about $3.3 to $4.46 is roughly 35% upside, which is highly attractive to short-term traders.

Momentum indicators show steadily increasing buying pressure, with the RSI reaching 61 and extending into overbought territory, while the MACD and signal line are trending higher above the zero axis. An RSI of 61 indicates strong buying, but it is close to the overbought zone of 70, suggesting short-term technical pullback risk is rising. However, in a strong uptrend, the RSI can remain in overbought territory for a long time, so a reading of 61 is elevated but not necessarily an immediate sell signal.

The MACD and signal line remain above the zero axis and are trending higher, which is a classic bull market feature. When both MACD lines are above zero and continue to rise, it shows that upside momentum is accelerating. This setup supports MYX Finance’s continued push toward the 100-day EMA and possibly a successful breakout.

On the downside, MYX Finance’s key support is the 50-day moving average at $3.24, followed by the 200-day moving average at $2.67. As long as the price stays above the 50-day EMA, the short-term uptrend remains intact. But falling below the 50-day EMA would be an early warning of a trend reversal, possibly retesting the deeper support at the 200-day EMA of $2.67.

Dash Stuck Below 100-day EMA After Multiple Failed Tests

(Source: Trading View)

Dash is trading above $50 but struggling to break through the 100-day moving average. Dash has posted its third consecutive day of gains, aiming to break the 100-day moving average at $50.98. As of press time, DASH was trading near $52.00, up 5% on Friday. This price position is quite delicate: although it has broken above the 100-day EMA, the breakout has not yet been confirmed as valid.

If the privacy coin closes each day above $50.98, it will confirm a breakout above the 100-day moving average, setting up a move toward the 50-day moving average at $59.50. In technical analysis, confirmation of a breakout requires a close above the level, not just an intraday move, as intraday false breakouts are very common. Only if Dash can close above $50.98 and stay above that level for several days will the breakout be confirmed.

Like Zcash, momentum indicators on DASH’s daily chart also suggest a positive trend shift. The RSI is moving up around 42, approaching the midpoint, and the MACD and signal line are about to form a golden cross. This simultaneous strengthening of technical indicators provides momentum for Dash to break through the 100-day EMA.

MYX Finance vs Dash Technical Comparison

MYX Finance: Eight consecutive gains, RSI 61 near overbought, strong upward MACD

Dash: Three consecutive gains, RSI 42 neutral to bullish, MACD about to form a golden cross

Commonality: Both are testing 100-day EMA resistance, momentum indicators strengthening

Differences: MYX has stronger momentum but is near overbought, Dash has milder momentum but more room to run

However, if DASH fails to rebound from $50.00, the decline could extend to the 200-day moving average at $41.16. This would represent about 18% downside from the current price. $41.16 is a deeper support level, and if reached, would test the determination of Dash bulls and the strength of buying support.

Market Logic Behind the Privacy Coin Rally

The simultaneous rebound of Zcash and Dash, two major privacy coins, may reflect a reassessment of the need for privacy protection in the market. In the context of tightening regulation, privacy coins were once considered high-risk assets, with many exchanges even delisting privacy coin pairs. However, as more countries establish clear regulatory frameworks for crypto, the market is beginning to recognize the legitimacy and necessity of compliant privacy protection technologies.

Zcash uses zk-SNARKs zero-knowledge proof technology, allowing transactions to be verified in a fully encrypted state, protecting user privacy while maintaining blockchain integrity. Dash offers an optional PrivateSend feature, allowing users to choose whether to conduct private transactions. Both technical paths seek a balance between privacy protection and regulatory compliance.

From a market cycle perspective, the privacy coin rebound may also be related to capital rotation. When mainstream coins like Bitcoin and Ethereum pull back or consolidate, capital often seeks undervalued altcoins. As established projects with real technical use cases and long-term community support, Zcash and Dash often attract bargain hunters during such rotations.

Although MYX Finance is not a privacy coin, its simultaneous rise with Zcash and Dash may be because they all belong to the category of “undervalued tech projects.” MYX Finance is a decentralized derivatives trading platform offering perpetual contract trading. In the DeFi derivatives sector, MYX’s technology and product design have been recognized by some professional users, but its market cap and visibility still lag far behind leaders like dYdX. The eight-day rally may be a process of the market rediscovering its value.

Frequently Asked Questions FAQ

Why are Zcash, MYX Finance, and Dash all rising at the same time?

Although the three belong to different categories (Zcash and Dash are privacy coins, MYX is a DeFi derivatives platform), they are all technically driven, established, or mid-cap projects. During capital rotation, such undervalued tech projects are often chased by hot money. In addition, all three are testing key EMAs, attracting synchronized technical buying.

Can Zcash break through $420?

Technically, the breakout is supported: the V-shaped reversal shows strong buying, the RSI is moving toward the midpoint, and the MACD is about to form a golden cross. Fundamentally, support is limited: it depends on whether the regulatory environment for privacy coins continues to improve. It is recommended to wait for a daily close above $420 and for price to hold before chasing higher, and to set a stop loss below $323.

Is it too late to chase MYX Finance after eight consecutive days of gains?

The risk-reward ratio is no longer ideal. RSI at 61 is near overbought, and short-term technical pullback risk is rising. It is recommended to wait for a pullback to the 50-day EMA at $3.24 before considering a buy, or wait for a confirmed breakout above the 100-day EMA at $3.58 before chasing higher, but position size should be controlled to avoid being trapped at the top.

Which is a better investment, Dash or Zcash?

Zcash advantages: more advanced technology (zk-SNARKs), larger market cap (about $6 billion), better liquidity. Dash advantages: wider real-world payment adoption, real user base in places like Venezuela. In the short term, Zcash has stronger momentum. In the long term, both face regulatory challenges for privacy coins, so positions should be managed cautiously.

Why is the 100-day EMA so important?

The 100-day EMA represents the dividing line between mid- to long-term trends. When the price is above the 100-day EMA, it usually signals a shift from a downtrend to an uptrend, attracting trend followers. MYX and Dash are both testing this key level; a breakout opens up more upside, while failure may send them back into a downtrend.