ZCash Price Crashes 30% on Weekly Chart, Is Party Ending Soon?

Key Notes

• Analysts warn of a structural downtrend in ZCash price, with lower targets at $410–$425 and $370–$380.
• On the other hand, ZEC futures open interest has fallen over 7%, signaling reduced trader exposure.
• On-chain data shows ZEC demand has cooled after its rapid growth during the 1,000% rally.

Despite the broader crypto market recovery, privacy coin ZCash ZEC $478.7 24h volatility: 6.3% Market cap: $7.85 B Vol. 24h: $851.46 M has been on a freefall, correcting nearly 30% over the past week. As of press time, ZCash is trading at another 7.5% down, losing the crucial support at $480. Experts cite on-chain data as to what happens next for ZEC.

ZCash Price Loses Crucial Support Levels

The ZCash price party seems to be coming to an end, after today’s drop under $480. Crypto analyst Ardi reported that ZEC has fallen below its two crucial support levels: the 50-day simple moving average (SMA-50) and the $480 support zone.

As a result, ZEC will be testing its final support at the 38.2% Fibonacci retracement level. It is the same zone that helped preserve the uptrend several weeks ago. Ardi stated that multiple ZEC price closes below this level would confirm a structural downtrend and a deeper correction ahead. According to the analyst, the next target levels to watch are in the $410–$425 and $370–$380 ranges.

Analyst Ardi also highlighted a key two-level confirmation setup around $480. He said that a successful move back above this zone would suggest the recent breakdown may have been a liquidity sweep rather than the start of a broader downtrend.

Furthermore, the CoinGlass data shows that ZEC futures open interest has dropped over 7%, to $977 million, in the past three hours. A drop in futures OI typically marks that traders are scaling back exposure, thereby highlighting signs of a potential pullback and market uncertainty.

Slowdown in ZEC Demand

Data from ZECHUB shows that surging demand for ZEC as a privacy-focused asset helped drive its nearly 1,000% rally between September and October. During the run-up, the number of shielded ZEC tokens held in the Orchard pool increased sharply, reducing circulating supply and reinforcing the upward price momentum.

However, the Orchard pool growth has reached its peak of 4.21 million ZEC on Nov. 4. This highlights a slowdown in demand for ZEC. If the net inflows don’t resume, it would prevent ZCash price from falling further.

Earlier this week, Grayscale said it has submitted the ZCSH Form S-3 filing , calling it a key step toward launching the first exchange-traded products (ETPs) for ZEC.