Key HighlightsZEC has surged more than 16% over the last week, currently hovering between $552 and $560The mainnet activation of the Ironwood shielded pool upgrade is expected around July 28A critical counterfeiting flaw in the Orchard pool was revealed in early JuneZEC futures open interest jumped over 12% within 24 hours, momentarily surpassing $750 millionBulls must clear the $644 resistance zone, with $675–$680 representing the next significant channel targetZcash has posted impressive gains of more than 16% throughout the past week, with ZEC hovering near $552 on Tuesday following an 11% rally in a single trading session, per CoinGecko figures.Zcash (ZEC) PriceThe privacy-focused cryptocurrency bounced sharply from late June lows around $368, delivering gains exceeding 56% from that trough in less than three weeks.Traders have watched ZEC clear two critical resistance barriers. Both the $500 supply zone and the $560 retracement threshold have been recaptured, positioning $644 as the next significant obstacle on the four-hour timeframe.Breaking above $644 would confirm a bullish short-term reversal, opening the door to subsequent targets at $690 and $750 that market participants are monitoring closely.Ironwood Upgrade and Critical Infrastructure TransitionDriving much of the recent momentum is the upcoming Ironwood shielded pool upgrade, scheduled for mainnet deployment approximately July 28.UPDATE: Over the last couple weeks we've made huge progress on Ironwood activation in Zcash!1. All of the consensus rule changes have been implemented, and have been undergoing auditing for some time now. Specifications / ZIPs are published and nearing their final state.2.… https://t.co/rjQSHM1uox— Sean Bowe (@ebfull) July 2, 2026In early June, developers publicly disclosed the discovery of a persistent counterfeiting vulnerability embedded within the Orchard shielded pool, a fundamental component of Zcash’s privacy architecture.Project Tachyon alongside Zcash core development teams are finalizing rigorous mathematical proofs designed to confirm that Ironwood successfully eliminates the security flaw without introducing additional vulnerabilities.Concurrently, the legacy Zcashd full-node client is scheduled to reach end-of-life status on July 18, prompting network participants to transition to the updated Zebra node implementation.Favorable Macro Backdrop Supports MomentumJune’s US CPI report delivered figures beneath market expectations, with headline inflation registering 3.5% compared to the anticipated 3.8%.The cooler-than-expected inflation print diminished rate-hike probabilities, triggering renewed appetite for risk assets. Bitcoin advanced from approximately $62,000 to above $64,000, lending broader market tailwinds.Open interest across ZEC futures momentarily exceeded $750 million, reflecting a surge of more than 12% in a 24-hour window.On the daily timeframe, the Relative Strength Index reads around 62, positioned above its moving average yet remaining below the overbought 70 threshold. On-balance volume has trended upward through July, indicating accumulation patterns accompanying the price advance.Market analyst Ali Charts highlighted on X that ZEC “keeps climbing,” identifying the channel’s upper boundary between $675 and $680 as the next critical level worth monitoring.Zcash $ZEC keeps climbing.The next major level I'm watching is the upper boundary of the channel at $675–$680. https://t.co/l7Ei0HhkaB pic.twitter.com/1xCy5elaT7— Ali Charts (@alicharts) July 16, 2026ZEC is currently trading near the upper Bollinger Band around $566, while the middle band sits near $464. The three-day Chaikin Money Flow indicator has sustained readings above +0.05, reflecting persistent buying pressure.The latest market data shows ZEC advancing 1.6% on Wednesday, July 15, with the $644 threshold remaining the decisive level bulls need to conquer.The post Zcash (ZEC) Surges 56% as Ironwood Upgrade Nears — Is $675 the Next Target? appeared first on Blockonomi.