Zcash (ZEC) price surged by 30% on Saturday, hitting a four-year high of $284 despite $19 billion in derivative positions being erased. As Bitcoin and Ethereum fell, Zcash emerged as the top gainer among the top-50 assets. The rally coincided with renewed geopolitical tension and discussions around privacy-oriented assets.

The surge was fueled by a massive short squeeze after prices broke above the $250 resistance zone, triggering forced covering and large-scale ZEC short liquidations. Coinglass data shows $5.75 million in ZEC liquidations, with $4.01 million coming from shorts and $1.74 million from longs.

As panic selling subsided, traders positioned for further upside, with Zcash’s Long/Short ratio recovering to 1.05. Roger Ver reached a $48 million settlement with the U.S. Department of Justice, raising discussions on privacy-resistance and anonymity features of assets like Zcash.

The combination of a peak rally, Trump’s trade policies, and Ver’s settlement make Zcash an attractive hedge against political uncertainty and market risks. ZEC currently trades around $265, down from its peak but still up 18% on the day, with technical indicators suggesting potential for further upside if certain conditions hold.

The RSI above 68 and sloping upwards, the MACD maintaining a positive divergence, and Parabolic SAR dots flipping below price candles indicate strong bullish momentum. Bulls could target $320 if ZEC holds above $250, but a drop below $235 could invalidate the bullish thesis and lead to a potential plunge to $190 support.

Read more at Yahoo Finance: Trump, China, and Bitcoin Jesus, Roger Ver Driving Zcash (ZEC) Price Rally to 4-Year Peak