A cup-and-handle pattern in Zcash could drive an 88 percent price increase.
Analysts point to technical signals suggesting ZEC may climb to $1,091 by June or July if momentum in privacy coins continues.
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Zcash has recovered about 45 percent from its recent low after developers proposed the Ironwood upgrade to address a supply verification issue. The privacy-focused cryptocurrency traded near $437 on Monday, though it remains down 22 percent for the week. The move comes after a patched bug in the Orchard pool triggered last week's sell-off.
Zcash has gained 37 percent after multicap capital disclosed a significant position in the privacy-focused cryptocurrency. The move comes amid broader interest in assets that offer protection from wealth seizure risks.
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Bitcoin climbed to a two-month peak near $78,000, driven by easing geopolitical tensions and growing investor confidence. Ethereum and altcoins such as XRP and BNB also posted gains. Analysts highlight technical indicators suggesting potential for further upside to $84,000.
Bitcoin climbed past $62,000 on July 2 as weaker-than-expected US employment figures reduced expectations for Federal Reserve rate hikes.
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Bitcoin stayed above 80,000 dollars on Friday while altcoins led gains across crypto markets. Coinbase shares recovered 10 percent from session lows after the exchange reported a quarterly loss.