Zcash cofounder targets $2,000, eyes $5,000 as ZEC drops below support

Zcash recent price action

Zcash, a privacy-focused cryptocurrency designed to provide anonymous transactions, surged to $1,696 on September 26, reaching its highest point in months after a sustained rally. However, the price has since lost momentum. As of the latest data, ZEC traded at $1,098, reflecting a decline of 10.23% over the past 24 hours. The broader crypto market experienced widespread selling following new inflation data that spurred concerns about potential Federal Reserve interest rate hikes this month.

To reach Ben-Sasson’s $2,000 target, ZEC would need to increase by more than 82% from its current price. The path forward may prove challenging if current market headwinds persist.

Technical levels and market sentiment

The recent pullback pushed Zcash below its daily MA 50, a moving average that had previously supported price increases during August 2026. Regaining this technical level could encourage bullish traders to drive the price higher and test resistance in the $1,300 to $1,400 range, with further upside toward $1,700 and potentially $2,000 if momentum continues.

Zcash needs to reclaim key technical support before bulls can attempt a rally toward $1,700 and $2,000.

Santiment analytics reported that ZEC gained approximately 48% between September 15 and September 26, 2026. However, by October 14, the token had lost nearly all those gains.

During this period, open interest in ZEC peaked at 1.60 million coins. By October 14, open interest had fallen by 2.5% compared to mid-September. Social volume also dropped significantly, with a high of 671 ZEC mentions during the rally, falling to just 50 on October 14, marking the quietest day since September 2. Despite the declining attention and reduced leverage, ZEC rose past $1,650 during the rally.

Upgrade and market outlook

A mainnet decision on the Zcash NU7 upgrade is expected on October 20, 2026. Despite this upcoming event, social dominance statistics for ZEC are at their lowest since early September, indicating subdued interest from the online community.

Eli Ben-Sasson’s bullish forecast keeps a spotlight on ZEC, though the market awaits further catalyst events and technical confirmation to support a renewed rally.

Mini dictionary: NU7 upgrade, the next major protocol update for Zcash, aims to implement technical improvements to enhance privacy, efficiency, and network functionality. Each upgrade on the Zcash network is designated “Network Upgrade” followed by a sequential number. NU7 is scheduled for a mainnet activation decision in October 2026.

Online metrics show declining social buzz around Zcash, even during rapid price movement, as open interest also recedes since last month’s peak.