Key Notes
- ZEC plunged nearly 22% in one day and lost a long-term trendline.
- A major long position worth $7.3M now sits on over $4.4M in unrealized losses.
- Analyst Crypto Patel warns ZEC may eventually fall below $200.
Zcash
ZEC
$364.4
24h volatility:
20.0%
Market cap:
$5.99 B
Vol. 24h:
$1.10 B
recorded a whopping 22% fall within a single day, as prices dropped toward the $360 zone. The crash put pressure on traders who entered aggressive positions at higher levels and turned what once looked like a breakout to $10,000 into a deep correction.
A notable wallet that opened a massive long position of 20,386 ZEC ($7.3 million) only nine days earlier is now deep under water, locked in $4.4 million of unrealized losses. As per Lookonchain, to avoid liquidation, the trader deposited another 1.5M USDC.
ZEC Price Analysis: Under $200?
ZEC is trading almost 94% beneath its all-time high, seen over nine years ago. The pullback saw the altcoin breaking below the ascending trendline on the chart and leaving traders to reassess short-term expectations.
Interestingly, analyst Crypto Patel, who previously alerted followers about the risks above the $700 area, pointed out that discipline rather than hope drives survival during drastic reversals. He now expects ZEC to reach under $200 after multiple price pullbacks.
Patel also expects a relief bounce toward $400–$450 before any deeper crash. The chart below shows a decisive break beneath trend support as the supply zone between $700 and $800 remains untouched after the rejection.
The psychological support appears near $300, but a failure there increases the probability of a drop below the $200 area.
ZEC price action inside a rising wedge | Source: TradingView
Vitalik Buterin’s Warning
Ethereum co-founder Vitalik Buterin urged the ZEC community to resist token-based governance and argued that such models concentrate influence and weaken safeguards that protect privacy.
He drew attention to how decisions driven by median token holders tend to prioritize short-term incentives rather than core principles. For a project that is focused on privacy, the governance model determines whether the protocol stays true to its roots.
ZEC Crash Nears: PEPENODE Presale Hits $2M Mark
While ZEC traders face losses, PEPENODE, an innovative crypto project, is entering the market spotlight with a brand new approach to digital asset mining.
PEPENODE allows users to build their own virtual meme coin mining rigs and gives them a digital space where mining plays out more like a personal project. Users can shape their own setup, adjust it, and watch it grow at their own pace.
While blending personal progression with token utility, PEPENODE has raised a whopping $2.2 million in its ongoing presale, with 30 hours until the next price increase. With staking rewards at 579%, early backers stand to gain the most.
Want to buy PEPENODE in the ongoing crypto presale? Learn more about the project alongside the token’s price prediction on Coinspeaker.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
Source: https://www.coinspeaker.com/zec-crashes-22-traders-start-to-lose-money-analyst-sees-under-200/
