Chart of the Day: Ansem pushes back on the Zcash top-call — “10 years of accumulation” is the bull thesis

A high-profile disagreement over Zcash’s (ZEC) next leg split crypto trading X this week, with influential trader Ansem hitting back at calls that the privacy coin’s vertical rally is running out of road. Ansem is adding strength to the growing Bullish Zcash Thesis.

The debate kicked off when Viktor (@thedefivillain), a closely followed on-chain trader, posted a 12-hour ZEC/USD chart flagging what he called a textbook second-top setup. Viktor argued that tokens which capture intense mindshare during a parabolic move typically print a hard ceiling, with most failing to break it on a retest. He cited ENA and APT as recent “lower high” examples, and TAO and WIF as classic double tops. Calls for a further 5x-10x on ZEC from here, he said, look “not impossible, but seems very unlikely.”

Ansem responded with a weekly Zcash chart stretching back to 2017 — the cleanest visual rebuttal of the day. The chart maps a decade-long accumulation range between roughly $20 and $200, with price now muscling toward the 2017 all-time high near $799.

Ansem’s drawn projection: a breakout that targets the $1,500-$2,800 region into 2027, Source: X

“What you’re discounting here is that $ZEC has gone through 10 years of accumulation, by the most long-term aligned people in crypto,” he wrote, adding the setup “cannot compare to altcoins that go 10x on launch with large VC supply overhang and mostly retail perps moonboys.”

ZEC last traded at $598, according to BNC, up roughly 1,400% year-to-date and now ranking as the 11th-largest cryptocurrency by market capitalization. The rally has been driven by Multicoin Capital’s disclosure of a position built since February, record shielded-pool usage above 30% of supply, and a renewed privacy-coin narrative tied to AI surveillance, quantum-computing risk and looming wealth-tax proposals.