Zcash (ZEC) moving past $250 with a 10% gain after Investment Trust filed with SEC

The Zcash Investment Trust was announced today in a move that has seen Zcash rise 10% to over $250 as investors flock to the privacy based cryptocurrency .

After bouncing back from $200 earlier this week, Zcash is now expected to continue profiting with the new Investment Trust expected to go live soon, alongside Bitcoin and Ethereum Classic Investment Trusts.

Last month ZEC has has been looking very bearish since it's 50% decline in value from $400, which is now looking like a sign of future prices.

Although a 1 month look shows declining support levels followed by a resistance level of $272, the following days will prove whether Zcash can push past onto $300. Above this price another resistance level from it's September 1st high around $307 will prove more difficult.

In the short-term, passing $300 would break a curent resistance trend from June (labelled L2), which cuts off the completely unsustained spike above $400 last month after rumours of Bithumb listing. L1 is otherwise a resistance trend but considered unreliable.

At the bottom, a six month support trend (L3) is where Zcash could fall to. Although unlikely, this highlights the risks when investing in unstable cryptocurrency such as ZEC. Fortunately, Zcash is currently facing the right way nearer L1 than L3 leaving $200 in the distance.

One mid-term analysis expects Zcash to reach $492 with good argument, while breaking news will definitely help to boost the price in the short-term. So if you were wondering why investors are heading to Zcash right now, that hopefully explains it.

Although quite high already, it doesn't seem too late to invest either.
The likelihood is this bull-run has some way to go yet.