Karla Barker 
Privacy coins show opposite price movements
Zcash and Monero, two of the leading privacy-focused cryptocurrencies, moved in opposite directions on Monday while the broader crypto market remained relatively quiet. Bitcoin held steady just above $92,000 as traders awaited the Federal Reserve’s upcoming meeting, and other major altcoins like BNB, Solana, and XRP followed Ethereum’s modest upward trend.
But here’s the thing—most altcoins haven’t really managed to break out of their recent ranges. They’re still trading well below their recent highs, and that includes both Zcash and Monero. The market seems to be in this holding pattern, waiting for something to give.
Zcash surges with double-digit gains
Zcash jumped more than 12% on Monday, climbing from around $334 to nearly $400 at its peak. According to CoinMarketCap data, the privacy coin reached highs of $398 across major exchanges before settling around $383. Now, that’s still a far cry from the $700-plus levels we saw recently, but maybe this signals some renewed interest.
What’s interesting is how Zcash has transformed from a laggard into a top-20 cryptocurrency by market cap. There’s been a noticeable increase in shielded transactions—those private transfers that make Zcash different from Bitcoin. People seem to be looking for privacy alternatives.
Futures open interest for ZEC sits at over $783 million, which is down from November’s $1.3 billion but still shows decent speculative activity. In the past 24 hours alone, liquidations hit over $10 million, with about 80% of those being short positions that got caught off guard by the sudden price jump.
If Zcash can break through that $400 resistance level, I think we might see a push toward $500 and possibly even challenge year-to-date highs. But if it falls below $370, sellers could take control again.
Monero struggles with continued losses
Monero tells a different story. While Zcash was climbing, XMR dipped in the past 24 hours, falling to lows of $360 earlier in the day. The coin now faces resistance around $380 and currently trades around $372—down nearly 2% on the day and 10% over the past week.
Compare that to Zcash’s 11% weekly gain, and you can see why traders are paying attention to this divergence. Monero has actually posted four consecutive bearish daily candles, and bulls are trying to prevent a fifth.
The problem is that most of November’s gains—which pushed XMR to highs of $470—have been erased. That drop to $360 leaves Monero vulnerable to further declines if support doesn’t hold.
From a technical perspective, Monero trades in a broadening wedge pattern, and the $400 area has become a key resistance point for bears. Futures open interest has contracted to $54 million, down from $67 million earlier this month and well below the November peak of $98 million.
There’s also this double-top formation around $435 that suggests a potential short-term dip toward $335 support. Macroeconomic pressures seem to be weighing on Monero more than on Zcash, though both face similar market conditions.
It’s worth noting that privacy coins often move together, but this divergence suggests something different might be happening. Perhaps traders are differentiating between the two based on their specific features or adoption trends. Or maybe it’s just temporary market noise before the Fed meeting.
Either way, the next few days could be telling. If Zcash maintains its momentum and Monero finds support, we might see both recover. But if the broader market turns bearish after the Fed announcement, even Zcash’s recent gains could be at risk.