Zcash Prices Plummeting: A 30% Drop Since November Highs — What’s Next for ZEC?

Zcash Prices Plummeting: A 30% Drop Since November Highs — What’s Next for ZEC?

Summary:
Zcash (ZEC) has experienced a significant decline of around 30% since its peak of $750 in November. Analysts suggest that this downtrend may continue, raising concerns over a possible "pump-and-dump" scenario amid increasing promotional pressures in the cryptocurrency space.

Key Takeaways:

The charts for ZEC show patterns similar to BNB’s before a crash, indicating a potential correction to the $220–$280 price range.
Concerns are growing over manipulated market dynamics, though some seasoned investors are maintaining a bullish outlook for the long term.

Zcash (ZEC) has fallen approximately 30% from its November high of $750, sparking fears that further declines could be imminent. Some analysts are cautious, warning of the possibility of a “pump-and-dump” scenario in the current market.
ZEC/USDT four-hour chart. Source: TradingView

Analyzing ZEC's Price Patterns: Potential for Further Decline

As of Monday, Zcash's price pattern showed a symmetrical triangle formation on its four-hour chart. This indicates indecision among traders after a massive price surge of 1,500% since late September.
The price action also followed a rebound from the 200-4H exponential moving average (represented by the blue line), highlighting a significant support threshold. This setup suggests a potential move toward the upper boundary of the triangle, which is near the 0.786 Fibonacci level at $686 recorded in November.
ZEC/USDT four-hour price chart. Source: TradingView

Symmetrical triangles can result in price movements in either direction, dependent on general market sentiment. Currently, the sentiment surrounding ZEC appears unstable, influenced by uncertainties related to Federal Reserve policies and elevated valuations within the AI sector, affecting risk assets negatively. Hence, if economic conditions remain unchanged, a breakdown below the triangle’s lower trendline seems probable in the upcoming weeks.
Source: X

Such a decline could lead ZEC toward a target of around $282, approximately 50% lower than current levels, anticipated by early 2026. This target aligns with local peaks established in early October, as well as the 20-period EMA (illustrated by the green line) on the weekly chart.
ZEC/USDT weekly chart. Source: TradingView

Parabolic Patterns and Price Corrections

The current price structure of Zcash resembles the parabolic rise and subsequent decline seen in BNB (BNB) before experiencing a steep correction, according to trader Nebraskangooner.
ZEC/USDT and BNB/USDT daily chart comparison. Source: TradingView/Nebraskangooner

Much like BNB's rally in 2021, ZEC has lost momentum following an excessive rally. The price has struggled to reclaim its parabola support, which disappointed Zcash bulls who had set a price target of $1,000 earlier in November. According to Nebraskangooner, such patterns often indicate deeper corrections of at least 60%, which could position ZEC within the $220–$280 range for its downside target.
Source: X

Analyst Reactions and Market Sentiments

Heightening the bearish sentiment, Mark Moss, a venture capitalist and Bitcoin educator, disclosed screenshots revealing messages from marketing firms proposing paid collaborations for promoting ZEC.
Source: X

Market analyst Rajat Soni remarked that the recent buzz surrounding ZEC could be an attempt to "find exit liquidity," referencing misleading reports claiming that Fidelity analysts predicted Zcash could reach $100,000. Despite these concerns, notable figures in the crypto space, including BitMEX founder Arthur Hayes and Gemini co-founders Tyler and Cameron Winklevoss, are remaining optimistic about Zcash, with Hayes predicting a price of $10,000 for ZEC.