- On April 17, the price of Zcash fell by about 4.39% on the daily chart, forcing its price to drop below $330 following the increase in selling pressure due to profit retention.
- The drop comes amid strong sentiment across the crypto market, with Bitcoin (BTC) surging above $77,000 amid political tensions.
- Technical indicators show changes in cryptocurrency prices, supported by the seasonal altcoin index.
Despite the strong sentiment in the crypto market as a whole, the leading cryptocurrency, Zcash (ZEC), fell by around 4.23% on the daily chart, dropping its price by $330.
Currently, Zcash is trading at around $328.69 with a market cap of $5.46 billion, according to CoinMarketCap price. Daily sales are around $468.36 million.
Although the price of ZEC has fallen slightly over the past few days, it still made a monthly gain of around 33%.
Zcash Faces Regulatory Despite Sound Crypto Market
The decline comes even as the crypto market is showing mixed signals and is a profitable choice for other currencies. Bitcoin sold with a slight movement around recent levels after previous gains, and this created a cautious environment for crypto tokens such as Zcash.
According to experts, investors are citing short-term profit retention following a strong rally in ZEC in early 2026 as one of the main reasons for the current drop. During the last few trading sessions, many traders have bought ZEC at low prices. Now, they are selling their tokens.
The recent decline comes after the rejection of $350, which served as a major resistance area. ZEC has followed a strategy of combining between $320 and $350 for several weeks after the initial surgery. Recent sessions have seen prices break above the key support level around $340, and this breakdown has triggered additional sell orders from traders who closely monitor the chart.
Zcash is now showing the first signs of further weakness as the price fails to recover the level broken on high buying volume. According to the current price chart, there is strong support around $320, and if the cryptocurrency falls below this level, it may open the door to a major correction.
According to TradingView, the cryptocurrency is showing bearish pressure in the short-term chart. The Relative Strength Index is hovering around 36 over the 14-day period. This means that interest has decreased, but the stock is not yet overbought and has left some additional ground before it reverses.
The price is now trading at a 5-day moving average below, around $335, and a 20-day moving average at around $340. This data shows that retailers are currently working at a high level in the near future.
The Zcash exchange rate has increased over the past few days. This means that owners are moving tokens to sell instead of holding for a long time. Secured volumes on the network remain steady, indicating that large-scale use of private payments has now subsided, but the apparent sell-off in the open markets has contributed to price pressure.
However, Zcash continues to expand its ecosystem through various activities. Zcash Open Development Lab, also known as ZODL, promoted $25 million in new funding to accelerate protocol upgrades and streamline the ZODL wallet.
Foundry Digital launched a dedicated Zcash pool in April 2026 and quickly captured nearly 30% of the network’s total hashrate through partnerships with major miners.
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