Zcash (ZEC) jumps 7% on golden cross signal despite broader crypto market weakness

Zcash (ZEC) surged 7.26% in 24 hours to $373, driven by a golden cross on its short-term charts where the 50-day moving average crossed above the 200-day moving average. This technical signal often indicates bullish momentum. The rise comes amid a generally weak crypto market influenced by the Federal Reserve's decision to hold interest rates steady and rising inflation measures. Additionally, Zcash recently released a security update and saw increased social media activity, supporting its price gains. About 30% of ZEC's supply is now shielded, highlighting growing demand for privacy features.