Top 3 privacy coins to watch in the context of the market collapse

In November, Bitcoin and Ethereum both fell sharply, dragging many altcoins deep into the red. However, privacy coins stood out with incredible resilience, holding their ground even as the overall market plummeted.

The new privacy advancement of Ethereum named Kohaku has drawn attention back to coins that provide a deeper level of privacy right from the base chain. Below are the three most prominent privacy coins at the moment.

Monero (XMR): A hallmark symbol of privacy

Monero continues to assert its position as the leading privacy coin in the market. Thanks to technology that conceals the information of the sender, receiver, and the amount in every transaction, Monero ensures absolute privacy for users.

Unlike Kohaku's “self-select” model, Monero does not have a transparency option, making it a prime example of comprehensive privacy. Thanks to this characteristic, Monero has led the private coin group through the volatile market phase.

In the past three months, XMR has grown by about 50.1%. The private coin space in general has also benefited from the new privacy wave of Ethereum, with Monero leading the way.

Currently, Monero is moving within a rising wedge pattern since August 1st, making several attempts to break through the upper trend line but failing to do so. The price is approaching the resistance zone, and the privacy aspect makes this attempt particularly significant.

Monero price volatility | Source: TradingViewIf the candle closes above $425, Monero will show its true strength and have a chance to break the bearish pattern. Surpassing $477 will open up a stronger growth phase. As long as XMR holds above $367, the buyers still control the market. On the contrary, if it falls below this level, the trend will weaken and the price may head towards $304.

Zcash (ZEC): Impressive profit private coin

Zcash is a coin with a privacy mechanism most similar to Kohaku, using zk-SNARKs technology that allows users to choose between transparent or anonymous transactions. This model is akin to “selective disclosure, optional reveal” that Ethereum is implementing at the wallet layer.

The market has reacted positively to ZEC, with the value of this coin increasing by nearly 1500% in just the past three months, making it one of the best-performing coins in the market.

After reaching a peak of $748, the price of ZEC is currently experiencing a slight correction but remains above important moving averages, indicating that the upward trend is still intact.

Zcash price volatility | Source: TradingViewTo continue its upward momentum, ZEC needs to close candles above $748 – a level that has hindered multiple attempts since November 7. Holding the price above the $585–$623 range will help stabilize the short-term structure, while closing candles below $498 could reverse the trend to a fall.

Dash (DASH): A potential choice for traders

Dash does not have the same level of privacy as Monero or Zcash, as it uses the PrivateSend transaction mixing system – which is less robust than cryptographic security solutions.

Nevertheless, Dash is still seen by many traders as a privacy coin and has demonstrated outstanding performance during the market downturn. In the last three months, DASH has increased by over 244%, surpassing most major altcoins.

DASH price prediction | Source: TradingViewThe price chart of Dash is currently quite “clean”, with a positive divergence signal: from October 30 to November 19, the price created higher lows while the RSI indicator created lower lows. This is often a sign that selling pressure is weakening and buyers may return to the market.

Closing the candle on $87 will help Dash maintain its upward momentum. If it surpasses $103, the breakout trend will be reinforced. In the case of maintaining the trend, the next target areas will be around $148–$171. However, if it falls below $61.38, the bullish structure will be broken, and the trend may weaken.

In summary, when the overall market fluctuates, the privacy coin group still holds its strength and attracts the attention of investors due to its superior advantages in privacy and growth performance.

Mr. Giáo