Zcash (ZEC) Price Loses A Chunk of Its 1,442% Rise, Was It A Bubble?
Zcash is experiencing a sharp correction after a 1,442% October surge, with technical indicators suggesting further downside risk.Summary
Zcash (ZEC) is undergoing a severe correction, erasing a significant portion of its recent 1,442% rally driven by the privacy token narrative. Technical analysis indicates strong bearish pressure, as the Relative Strength Index (RSI) has dropped below 50.0, showing sellers are in control without reaching oversold conditions necessary for a bounce. Furthermore, the Squeeze Momentum Indicator confirmed a downside release following a period of compression, suggesting accelerating losses.
From its peak, ZEC has already crashed 56%, with 43% of that loss occurring in the last week, pushing the price to $323. If the downtrend persists, Zcash risks breaking the $300 support and potentially falling toward $260 or $204. Despite the immediate bearish outlook, Arthur Hayes suggests that 2026 may pivot to focus on privacy narratives, which could eventually reignite interest in ZEC. For now, a recovery requires buyers to defend the $344 area to target resistance levels at $442 and $520.
(Source：BeInCrypto)