Zcash’s price has surged today, breaking above its recent lows and attracting attention from traders. While the market remains choppy, a confluence of factors seems to be driving this upward trend. 2023 crypto trends highlight an increasing interest in privacy-focused assets. Arthur Hayes, known for his strong opinions on Zcash, recently transferred significant ETH to market makers, sparking speculation about his investment strategy. He consistently emphasizes Zcash as a hedge against Bitcoin’s transparency, encouraging users to hold their coins privately. This renewed interest is further amplified by the launch of Zashi Wallet’s new upgrade. The wallet will now enable shielded ZEC purchases via NEAR’s cross-chain intents, making it easier than ever for users to seamlessly swap assets into private Zcash. This innovation connects DeFi liquidity with Zcash’s privacy layer, driving adoption and potentially increasing the share of shielded addresses. While a technical bounce has led to this price increase, resistance remains at $696-$700. Whether ZEC continues its upward trajectory hinges on whether it can overcome this hurdle. A successful break above $700 could open up possibilities for further gains; however, failure could lead to a drop back down to the $535 zone. This recent price movement signifies a mix of renewed interest in Zcash’s privacy narrative and favorable technical conditions. As traders remain cautiously optimistic, Arthur Hayes’ actions, Zashi Wallet’s update, and chart support all contributed to today’s surge. However, market sentiment remains fragile with the crypto Fear & Greed Index at only 17 out of 100. With a $7.5 million ZEC unlock also happening today, more gains are unlikely until the market acclimates to this influx. The future of ZEC price will likely be determined by how it handles the $700 resistance and by market sentiment’s sustained interest in privacy assets.