Zcash has experienced significant volatility recently, with the rally initially supported by growing institutional interest and several ecosystem-specific catalysts. Paradigm disclosed its investment in Zcash and described the cryptocurrency as a potential private complement to Bitcoin, providing a significant boost to sentiment. The launch of 21Shares' first European Zcash ETP and renewed inflows into Grayscale's Zcash ETF further strengthened the institutional adoption narrative.However, profit-taking and ETF outflows weighed on the cryptocurrency following its strong rally as macro headwinds started to bite. Inflation risks, growth concerns, Fed rate hikes, geopolitical uncertainty and AI-related woes weighed on risk sentiment. More recently, Zcash dropped following the news of the Binance security breach, which reportedly resulted in approximately $6.3 billion being drained from multiple wallets. Historically, cryptocurrency selloffs triggered by exchange hacks have often been followed by a recovery, but the economic context decided how quickly. The initial reaction tends to be driven by panic, uncertainty and forced liquidations rather than a deterioration in the fundamentals of cryptocurrencies.Looking ahead, the focus will be on the US-Iran negotiations and the US midterm elections. The risk sentiment improved a bit over the weekend as Iran proposed a two-day framework to reopen the Strait of Hormuz, much shorter than the previous seven-day plan. We will likely need a breakthrough in US-Iran negotiations or dovish Fed comments, though, to change the current bearish trend. A surprising red sweep in US midterm elections could also support Zcash as markets could reprice the expected fiscal restraint. A blue sweep, on the other hand, could put further pressure on the crypto market if there’s no resolution to the Iran war. ZCASH TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that Zcashis approaching a major resistance zone around the 1,380 level. If the price gets there, we can expect the sellers to step in, with a defined risk above the resistance, to position for a drop into the 1,031 support. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into the 1,692 level next.ZCASH TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we have an upward trendline defining the bullish momentum. The buyers will likely continue to lean on the trendline, with a defined risk below it, to keep pushing into new highs. The sellers, on the other hand, will look for a break lower to pile in for a drop into the 1,031 support next.ZCASH TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, there’s not much we can add here as the sellers will likely wait for the price to come into the resistance or break below the trendline, while the buyers will look for a break above the resistance or a bounce around the trendline. The red lines define the average daily range for today.UPCOMING CATALYSTSToday we have the US ISM Manufacturing PMI. Tomorrow, we have the US Job Openings data and the US midterm elections. On Wednesday, we have the US ADP and the US ISM Services PMI. On Thursday, we get the latest US Jobless Claims data. On Friday, we conclude the week with the US NFP report and the University of Michigan Consumer sentiment survey. This article was written by Giuseppe Dellamotta at investinglive.com.