Zcash Leads Crypto Rally

Zcash led a crypto rally with 30% gains after President Donald Trump announced a two-week ceasefire with Iran. The privacy coin's rebound resembled bounces witnessed during the 2021 bear market, raising the odds of a 40% correction in the coming weeks. The rally was driven by relief over the ceasefire announcement, which eased tensions in the market. However, analysts warn that the rally may be a bull trap, with over $50 million in long leverage sitting below current prices. A key level to watch will be the 0.236 Fibonacci retracement level near $197, which is acting as strong support. If bulls fail to break above the descending trendline resistance, the rally could lose steam, raising the risk of a pullback toward the $197-$200 support zone.