- Zcash has climbed above $500 as $260 million in ZEC moves into the new Ironwood shielded pool.
- ZEC now targets $520, with a breakout potentially opening the path toward $560 to $580.
Zcash has returned above $500 as the migration to its new Ironwood shielded pool accelerates. ZEC gained 2.8% in 24 hours to trade near $509 on August 18, while about $260 million worth of ZEC has moved into Ironwood since its launch.
The latest rise extends ZEC’s seven-day gains to 3.4% after the price briefly reached $520. With the new pool now holding more ZEC than the older Sapling pool, attention is turning to whether ZEC can break the $516-$520 resistance and target higher levels.
Ironwood Migration Strengthens Zcash Network
Ironwood went live on July 28 after a vulnerability was discovered in the Orchard shielded pool. The flaw raised concerns because it could potentially allow counterfeit ZEC to be created without detection.
Zcash developers responded by sealing Orchard to new deposits and internal transactions. Funds can still leave through the existing turnstile mechanism.
Ironwood addresses the supply verification concerns by ensuring that more ZEC cannot leave Orchard than was legitimately deposited. The new pool also uses a corrected Orchard circuit alongside additional security measures, including independent audits and formal verification.
The upgrade also introduced quantum-recoverable notes under ZIP 2005.
The security issue had previously pushed ZEC sharply lower. The price fell more than 50% after the Orchard vulnerability became known. ZEC was trading near $475 when Ironwood launched in late July.
ZEC Price Eyes $520 Resistance
ZEC’s daily chart shows support around the $400 to $420 region, where a large amount of historical trading activity has taken place. The price bounced from this area in late June before reaching roughly $570 in July.
The daily Supertrend currently places support near $447. ZEC remains above this level, keeping the broader daily structure positive.
However, buyers must first push ZEC above $516 to $520. A sustained break above this zone could bring $540 into focus, followed by the $560 to $580 resistance area.
The short-term chart remains more cautious. ZEC was trading just below the 4-hour VWAP near $511.59, while the upper band stood around $513.11.
A move above $511 to $513 would give buyers a stronger setup for another test of $520.
If ZEC fails to hold $500, the price could retreat toward $480. A deeper decline would expose the $447 Supertrend support, while the $400 to $420 zone remains the major downside area.
For now, the Ironwood migration and recovery above $500 give ZEC a stronger base. The next decisive move will likely depend on whether buyers can turn $520 into support.
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