Zcash surged above $1,300 after breaking out of prolonged consolidation, briefly reaching $1,400 before retracing to $1,330 and recording a 2,500% gain over the past year, described as a new 10-year high. The rally coincided with an unidentified whale withdrawing 15,300 ZEC worth approximately $17.92 million from Binance, OKX and Kraken. The move has also pressured bearish traders, including Garret Jin, whose short position totals 37,760 ZEC worth about $51.5 million and has a liquidation price near $2,631. Analysts including Altcoin Sherpa and Crypto Bitlord have projected targets between $1,500 and $2,000. A governance vote to reduce block-target spacing from 75 seconds to 25 seconds may have supported the rally by enabling faster confirmations, while halving remains part of Zcash’s planned issuance model. However, exchange inflows have exceeded outflows, potentially increasing selling pressure, and the Relative Strength Index is just above 70, indicating possible overbought conditions. The $1,200-$1,250 area is key support, while a daily close below $1,200 could weaken the bullish structure.