How Low Will ZEC Price Go Amid Zcash Governance Turmoil?
Cointelegraph
Zcash price risks falling to $200-$300 following the core development team's exit from Electric Coin Company.Summary
Zcash (ZEC) experienced a significant drop, falling over 20% to around $381 after the core development team unexpectedly resigned from the Electric Coin Company (ECC). Although former CEO Josh Swihart confirmed the team will form a new entity for privacy development, market sentiment remains negative, leading analysts to predict further declines.
Technical analysis suggests ZEC could drop another 40-50%, targeting the $200-$250 range, as the price broke below a crucial support confluence formed by a rising trendline and the 20-day Exponential Moving Average (EMA). Furthermore, ZEC is breaking out of a bear flag pattern, which points to a measured move target of $275–$300, aligning closely with the 200-day EMA.
(Source：Cointelegraph)