- On April 17, Zcash price fell by about 4.39% on the daily chart, forcing its value to fall below $330 following increasing selling pressure due to profit taking.
- This decline comes amid bullish sentiment in the overall cryptocurrency market, with Bitcoin (BTC) rising above $77,000 amid easing geopolitical tensions.
- Technical indicators show a downward trend for the cryptocurrency, supported by the Altcoin Season indicator.
Despite bullish sentiment in the overall cryptocurrency market, the leading privacy coin, Zcash (ZEC), suffered a decline of about 4.23% on the daily chart, falling in value by $330.
Currently, Zcash is trading at around $328.69 with a market cap of $5.46 billion, according to CoinMarketCap. The daily trading volume ranges around $468.36 million.
While the price of ZEC has seen successive declines in the past few days, it is still posting monthly gains of around 33%.
Zcash is facing a correction despite bullish sentiment in the cryptocurrency market
This decline comes even as the cryptocurrency market is showing mixed signals with selective profit taking across altcoins. Bitcoin It has traded with limited movement around recent levels following earlier gains, creating a cautious environment for privacy-focused tokens like Zcash.
According to experts, investors are citing short-term profit-taking after a strong rally in ZEC earlier in 2026 as one of the main reasons behind the current decline. Over the past few trading sessions, many traders have been buying ZEC at low prices. Now, they are selling their tokens.
The current decline comes after facing rejection at $350, which played a role as a major resistance level. ZEC followed a consolidation pattern between $320 and $350 for several weeks after the previous rally. Recent sessions have seen the price break above an important support level around $340, and this breakout has triggered additional sell orders from traders closely monitoring the chart.
Zcash is now showing early signs of potential further weakness if the price fails to reclaim the broken level thanks to strong buying volume. According to the current price chart, there is a strong support level at around $320, and if the cryptocurrency falls below this level, it could open the door for deep corrections.
According to TradingView, the cryptocurrency is showing downward pressure on the short-term chart. The RSI is at around 36 on the 14-day time frame. This means that momentum has weakened, but the asset is not yet deeply oversold and leaves some room for further decline before a potential recovery occurs.
The price is now trading at the 5-day moving average below, around $335, and the 20-day moving average near $340. This data shows that sellers currently have the upper hand in the near term.
Zcash exchange balances have seen some increases in recent days. This indicates that token holders are transferring tokens for sale rather than holding them for the long term. Protected transaction volumes on the network remain steady, indicating that the underlying use of private payments has now slowed, but visible selling on open markets has contributed to price pressure.
However, Zcash is constantly expanding its ecosystem through various developments. Zcash Open Development Lab, also known as Zudel, nominative New $25 million in funding to accelerate protocol upgrades and improve the user-friendly ZODL wallet.
Foundry Digital launched a dedicated Zcash mining pool in April 2026 and quickly captured around 30% of the network’s total hashrate through partnerships with large-scale miners.
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