Zcash Surges Over 13% Ahead of Ironwood Upgrade, Prices Near $650 Resistance

Zcash (ZEC) climbed 13.37% in 24 hours to $571.88, outperforming the broader crypto market as investors anticipated the Ironwood network upgrade slated for around July 28. The upgrade patches a counterfeiting vulnerability discovered in June within the Orchard shielded pool, restoring confidence in the privacy‑focused coin. Futures open interest briefly topped $750 million, up more than 12%, signalling fresh speculative capital. The rally was also supported by a cooler‑than‑expected U.S. CPI print that eased rate‑hike fears.

Technical indicators show the price above key moving averages, with the 9‑day EMA near $514 and the daily RSI at 64.58, suggesting continued upside. Traders are watching a major resistance zone near $650; a daily close above this level could confirm a breakout and open the path toward $755, roughly a 20% gain from current levels. Open interest and modestly positive funding rates indicate growing bullish sentiment without excessive leverage.