The Zcash price dropped more than 18% in the past 24 hours, falling into the mid-$300s after giving up a major support area. It’s a sharp move, and one of the biggest single-day pullbacks in recent Zcash price history, landing at a moment when the broader crypto market is already struggling.
Trading volume has jumped past $1 billion, and ZEC Coin has slipped into the list of the day’s worst performers, showing how quickly confidence in Zcash’s near-term direction has faded.
Governance Rift Intensifies Pressure on Zcash Coin
Vitalik Buterin’s Nov. 30 remarks added fuel to the drop. He warned that shifting to token-based voting could undermine Zcash’s long-term privacy goals, saying it would give more influence to large holders, open the door to quiet vote-buying, and tilt decisions toward short-term price moves.
Linking his position to the arguments he presented in a 2021 essay on decentralized governance, he stated,
“Privacy is exactly the sort of thing that will erode over time if left to the median token holder.”
His criticism hit right as the community was already debating how the Zcash Community Grants committee should be formed.
The discussion has split participants between those pushing for token voting and others who believe it would chip away at the project’s core principles.
Zcash Price Prediction: Analysts Target $300 as Bearish Signals Build
The technical setup weakened notably once ZEC slipped below the key $480 level, confirming a triple-top breakdown. The drop unfolded alongside a broader market pullback, with the total crypto market cap sliding nearly 5% and the fear gauge dropping to 20/100.
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Indicators reinforce the downside bias. The RSI sits near 37, showing weakening momentum. The MACD remains bearish, and nearly all short-term EMAs on the Zcash price chart are pointing downward. Volume has doubled, suggesting forced selling rather than organic accumulation.
Notably, market analysts are drawing clear lines for the next phase. Ardi noted that ZEC hit Liquidity Zone #2 around $370, exactly where he expected the price to stall. He argues that if this zone fails, the next logical destination lies between $297 and $311, an area he describes as a major liquidity zone combined with the 61.8% retracement.
Similarly, Nebraskangooner reached a comparable conclusion from a different angle. He pointed out that ZEC’s parabola has already broken, mirroring the pattern he documented earlier in BNB.
In his view, once the parabola breaks, the sequence tends to follow a reversion pump, then another leg down. With that breakdown now confirmed, he suggests the market is entering the phase where price begins to “die off” toward lower support.
Both perspectives converge on the same concern that the Zcash price must regain the $400–$420 area quickly to avoid further deterioration. If it fails, liquidity models, historical reactions, and current momentum all point toward the low-$300s as the next area of interest.
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