Well, well, well! Zcash has done the impossible-surged 100% in a day, making the bears weep and the bulls grin like fools. It briefly flirted with $680, but then cooled down to $665, as if saying, “Not so fast, my friend!”
Zcash stays in Top-3
Now, ZEC is rubbing shoulders with Hyperliquid and Toncoin, two coins that have been waiting for their moment in the sun, and now they’re basking in it like it’s the 19th century and they’re at a posh gala.
The 50-day, 100-day, and 200-day averages are all in a completely bullish formation, and ZEC is floating above them like a hot air balloon in a hurricane-unstable, but oh so high! A vertical expansion move, driven by short liquidations and derivatives activity, was initiated by the breakout above the previous consolidation range around $500. Seems like the market’s got a case of the jitters.
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Zcash (ZEC), Hyperliquid (HYPE), Dogecoin (DOGE), Shiba Inu (SHIB) and Bitcoin (BTC) Price Analysis for May 21: Alt Season Signals Grow
According to Coinglass data, shorts accounted for almost all of the $28 million in 24-hour liquidations. Spot activity increased to above $477 million, and futures volume surged to $5.7 billion, demonstrating that the rally is not solely driven by leverage. Just a bunch of overconfident bears, I suppose.
Hyperliquid’s recovery point
ZEC’s daily RSI has risen above 70, indicating significant momentum, but also cautioning that without consolidation, upside continuation will become more erratic. Hyperliquid is displaying a comparable trend. After regaining its ascending trend structure and surpassing resistance with enormous momentum candles, HYPE exploded toward the $60 area. Like a caffeinated squirrel with a compass.
After months of compression, TON produced a delayed recovery move, but because it is still trading much closer to long-term resistance, its structure is still weaker than that of ZEC and HYPE. TON’s like a slowpoke trying to keep up with a cheetah.
Traders should now keep an eye on whether buyers are able to defend the $600-$620 range, particularly for ZEC. The asset may continue toward psychological resistance around $700, and possibly $750, if it stabilizes there. Aggressive profit-taking would probably ensue if that area was not held after the near-parabolic rally. Just don’t expect the party to last forever.
Instead of general market stability, the current market behavior across ZEC, HYPE, and TON points to capital rotation into assets that were previously neglected. That’s an important distinction. Like swapping a rusty bicycle for a shiny new car-only to realize the car’s missing a wheel.
These rallies can last longer than anticipated, but historically, once leverage overheats and new spot demand vanishes, they also reverse sharply. So, enjoy the ride while it lasts-because the ground’s gonna give way eventually.
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2026-05-21 14:08