Key Insights:
- ZEC trades near channel support with risk of drop if $360 fails to hold.
- Whales are withdrawing ZEC from exchanges, suggesting quiet accumulation continues.
- Price remains below major EMAs, confirming weak momentum and continued seller control.
Zcash (ZEC) was trading around $346.96 after a 7.1% drop in the past 24 hours. The price has fallen 11% over the last week. On the daily chart, ZEC is sitting near the lower edge of a descending channel. This area around $360 has previously acted as a base where buyers stepped in.
However, the price level also lines up with the 200-day exponential moving average (EMA), which often attracts interest during downtrends. This makes the $360 zone a crucial area to watch. If buyers hold this line, a short-term bounce toward $480–$500 could still form within the channel. If not, the price could move lower.
Trend and Volume Remain Bearish
Despite reaching support, ZEC remains under pressure. The price continues to trade below key EMAs — including the 20, 50, and 100-day lines — which are all trending lower. This setup reflects weakness in momentum. No sign of reversal has formed yet.
Trading volume has stayed moderate, with no spike to suggest a strong defense of support. A clean breakdown below $360, especially on higher volume, could bring a move down toward $300. This would align with past price zones where the asset found stability.
Exchange Netflows Show Token Movement Off Platforms
Blockchain data from September 2025 to January 2026 shows a pattern shift in exchange activity. As ZEC’s price climbed above $700 in early November, inflows to exchanges increased. This is often seen when holders prepare to sell.
After the peak, the flow reversed. Netflows turned negative, meaning more ZEC was being pulled off exchanges than added. This usually happens when holders shift assets to cold storage or wallets. It may reflect longer-term interest, but it hasn’t changed the current downtrend.
Market Activity Driven by Larger Holders
Whale activity has increased as the price dropped. Some large holders are buying the dip and withdrawing tokens from exchanges. This behavior suggests confidence, but so far it hasn’t stopped the decline.
“Until sellers ease off, the $300 level remains possible,” said one observer. With ZEC now sitting on a key level, the next few trading days will show whether support holds — or gives way to more losses.
Source: Tom Tucker/XDISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/zec-nears-breakdown-is-300-the-next/
