ZEC rises 50.53% over the past month as large investors and favorable market trends support upward movement

As of November 10, 2025,

fell by 1.11% over the past day, settling at $616.53. Over the previous week, ZEC surged 27.36%, climbed 50.53% in the last month, and soared 982.42% over the past year.

The largest ZEC long position on Hyperliquid has been aggressively accumulating since November 3, starting with $2.21 million. This investor opened long positions in two main price zones: $497–$499 and $597–$595. Each time, the price experienced notable gains within a day of their entry. Despite a market pullback last week, the whale reduced exposure on November 9 and 10, selling between 5,000 and 15,000 ZEC, but still maintains a 55,000 ZEC long at an average entry of $555.4 with 5x leverage. Additionally, $500,000 was transferred to their on-chain wallet, hinting at possible further moves.

Zcash (ZEC) ended November 10 at $611, bouncing back 3% after a 4% drop the day before. Open interest in ZEC derivatives exceeded $1 billion, up 1.4% in the last day. The long-to-short ratio stands at 1.006, indicating a balanced market. ZEC is trading close to the upper Bollinger Band at $610, below the $667 mark, and the MACD remains bullish at 101.55 compared to 82.91. However, the flattening histogram points to fading momentum, while the Money Flow Index (MFI) at 71.17 signals strong inflows but also suggests the asset may be overbought.

On November 10, a new wallet deposited 3.62 million

into Hyperliquid and opened a 10x leveraged long on ZEC. At the same time, BitMEX co-founder Arthur Hayes pointed to the likely resolution of the U.S. government shutdown as a bullish factor for both BTC and ZEC. Meanwhile, Zenrock’s wrapped ZEC token, zenZEC, achieved $15 million in trading volume on , merging Zcash’s privacy technology with DeFi and underscoring the rising demand for cross-chain privacy solutions.

Backtest Hypothesis

A suggested backtesting method for ZEC is designed to test the effectiveness of the Money Flow Index (MFI) as a trading indicator. The approach considers a buy when the MFI rises above 80 (the typical overbought threshold) and a sell when it drops below 70. The objective is to determine if this method would have consistently produced profits from January 1, 2022, to now.

To carry out the backtest, it’s important to confirm the precise ZEC ticker (such as “ZEC-USD”, “ZEC-USDT”, or an exchange-specific code) and verify that 80 is the correct overbought level. After these details are set, MFI data can be collected, trade signals generated, and the strategy’s results analyzed.

This hypothesis fits the current technical landscape, as ZEC appears to be consolidating and showing overbought signals, making MFI a relevant tool for identifying entry and exit opportunities. If proven effective, this strategy could help traders systematically take advantage of ZEC’s recent bullish trend.