Zcash Drops 21% From Recent High—Here’s Why the Rally May Not Be Over
Zcash is pulling back sharply, trading around $1,333, down 7.3% on the day and about 21% below its late-September peak after a massive 253% rally. The broader crypto market is weak, with Bitcoin giving back an inflation-driven spike and macro conditions still uncertain. Sentiment around ZEC is also being pressured by Grayscale’s Zcash ETF, which saw a $30.25 million net outflow after strong early inflows, and by hack-related activity: Zcash was used to move part of the $387 million Bitget theft into its shielded pool. Technically, the drop looks more like a correction than a breakdown. RSI is neutral, ADX still shows a strong trend, and the 50-day EMA remains above the 200-day EMA, keeping the longer-term structure bullish. Key levels are about $1,233 on the downside and $1,411 on the upside.
