[DigitalToday reporter Yoonseo Lee] Privacy coin Zcash (ZEC) has risen 18 percent over the past three days, moving against a weaker overall cryptocurrency market.

Cointelegraph reported on May 19 that a cup-and-handle pattern suggesting further gains has appeared on the ZEC/USD chart. If the pattern completes, it raised the possibility the price could climb to $1,091 in June or July.

Zcash has entered the handle phase, the final stage of the pattern. A cup-and-handle pattern is typically interpreted as a signal that buyers have absorbed prior supply and regained control after a rounded rebound is followed by a pullback, and the price breaks above the neckline. If this structure holds, $1,091, about 88 percent above the current price, is presented as the upside target.

The target also overlaps with the Fibonacci 1.618 extension zone. That level was calculated based on a $745 peak and a $185 low. It is a zone where expectations for gains could increase if a resistance breakout is confirmed on technical indicators.

Short-term price action has also differed from the market average. Over the same period, the overall cryptocurrency market fell 3.45 percent, but Zcash rose 18 percent. That is the background to some traders saying Zcash is effectively continuing its own "bull market."

This trend is not limited to Zcash. Over the past month, privacy coins broadly have shown stronger momentum than the overall market. Zcash led the gains, rising more than 73 percent over the period, with Monero (XMR) and Dash (DASH) also increasing. By contrast, the total cryptocurrency market capitalisation rose only 0.2 percent over the same period. This is read as a sign that funds are concentrating in the privacy coin sector rather than the overall market.

Demand for anonymity and financial privacy is behind the rise. In the market, privacy coins, which had not drawn attention for some time, are emerging again as a major narrative, with Zcash seen at the centre of it.

Comments that stirred investor sentiment have also emerged. Arthur Hayes, co-founder of BitMEX, said last week, "Zcash's market capitalisation can one day reach 10 percent of bitcoin's." That would correspond to $9,225 per coin based on Zcash's current circulating supply of about 16.68 million. In fact, ZEC's value against bitcoin rose about 20.50 percent after the comments.

In early May, Multicoin Capital disclosed it had exposure to Zcash investments, and Robinhood listed ZEC. Institutional exposure and expanded access for retail investors took place at the same time, providing additional momentum for the rally.

Zcash's next inflection point is expected to be whether it breaks above resistance at $625 to $650. If strength in privacy coins continues and institutional and retail inflows are maintained, attention is focused on whether Zcash can keep moving differently from the broader market.

$ZEC update This thing is running its own bull market rn… gg I closed my short. Especially with $BTC sitting on support around $76k Even a small pump in Bitcoin makes ZEC go absolutely stupid right now https://t.co/xLs6ficv7l pic.twitter.com/obAhbnXqfp