Bitcoin Resilience Boosts Cryptocurrency Market as Zcash, Chiliz, and Algorand Lead Gains

The broader cryptocurrency market has maintained its newfound risk appetite, with Bitcoin holding above $78,000 on Friday. This resilience is backed by institutional adoption, increased M2 liquidity, and potential use of Bitcoin for toll payments across the Strait of Hormuz.

Zcash ($ZEC) has seen an 8% rise in price, trading at $344 at press time. Despite a recent pullback from the $375 area, Zcash holds above both the 50-day Exponential Moving Average (EMA) and the 200-day EMA. This suggests underlying dip-buying interest, but the Moving Average Convergence Divergence (MACD) hints that downside momentum has cooled.

Chiliz ($CHZ), on the other hand, has reclaimed the 50% retracement at $0.0476 and holds above both the 50-day and 200-day EMAs. The trend momentum remains strong, with the Relative Strength Index (RSI) in overbought territory and the MACD line holding above the signal line.

Algorand ($ALGO) has held ground above the $0.1000 psychological level but trades below the 200-day EMA and under a descending resistance trend line. The broader structure remains capped, keeping recovery attempts corrective within a dominant higher-timeframe downtrend.