Zcash (ZEC) Sweeps $380 Level After Sharp 20% Daily Sell-Off

Zcash was among the big movers in the last 24 hours, as its fast-dropping price reached an earlier-noticed downside target.

Analyst Ardi, who follows ZEC closely, said the price touched the $380 wick sweep level after repeated warnings that $475 was the main break point and $450 was the last support before more falls.

Zcash was near $530 at one point, but the market couldn’t keep its structure for another sharp drop of almost 20% in one day. It also illustrated the risks of buying into a strongly price-advancing market.

Source: X

Many traders were way too early to buy and disregarded signs about structure and liquidity. The sharp decline revealed how quickly sentiment can shift once key levels break.

Similar setups in the past had large liquidity sweeps down much further before rallying. Ardi’s solid ZEC track record since December lent credence to the downside view as price action unfolded as expected.

Also Read: Turbulent Times for Zcash: ‘cashZ’ Wallet Emerges Amidst Governance in 2026

Zcash Long-Term Structure Still Leans Bullish

With the zoom down to the weekly chart, Zcash still demonstrates the evidence of the significant shift in the trend that started towards the end of last year.

The asset eventually launched out of the sideways movements below all major moving averages that required over a year to complete and actually surged with a mighty expansion move that saw it reclaim the 50, 100, and 200-week SMAs in a single move.

Source: Tradingview

After hitting a low at the $600 mark, Zcash has now fallen to the $370 mark. Although the pullback is not so aggressive on the lower timeframes, the price is still above the rising 20-week SMA at the end of roughly $328. This level has taken a significant role as a dynamic support.

Momentum Cools as Market Digests Gains

Contraction is shown by indicators of momentum as opposed to weakness. RSI has dropped from the overbought state of more than 75 down to the middle of the 50s on a weekly basis. 

This kind of reset can be frequently observed in strong trends, and the effect of a stabilizing price is achieved without disrupting the overall bullish bias.

Source: Tradingview

However, the RSI being above 50 is still a good indicator because, in higher timeframes, this number is often the demarcation between bullish and bearish markets. The MACD narrates the same. 

Also Read: Zcash Developers Move Fast With New Wallet After Leaving Electric Coin Company