Zcash was trading near $363 on Wednesday, little changed on the day, and up about 0.5% over the past 24 hours. The steadiness masks deeper damage. ZEC is down roughly 10.5% on the week, extending a double-digit slide for the month after heavy selling earlier in January.
Activity has also thinned out as prices stabilized, with 24-hour volume at about $404 million, down nearly 23%, suggesting buyers have yet to step back in with conviction.
The pause follows weeks of sharp swings tied to governance turmoil inside the Zcash ecosystem. Price has stopped sliding for now, but the market isn’t treating the move as a recovery. Rallies are still being met with caution, and sentiment gauges point to risk appetite fading rather than rebuilding
Zcash Reels from Electric Coin Company Upheaval
Pressure on the Zcash price intensified after the Electric Coin Company lost its entire core executive team, including CEO Josh Swihart. The departure followed disputes with Bootstrap, the nonprofit overseeing ECC, over governance direction and the possibility of a transition toward a for-profit structure.
Former ECC leaders have since announced plans for a new project, cashZ, centered on Zcash-aligned tooling and a new wallet, further adding to the uncertainty around development continuity.
ECC has appointed Steve Smith, formerly of Worldcoin developer Tools for Humanity, as interim CEO. The move drew criticism from parts of the privacy-focused community, given Worldcoin’s controversial biometric model.
At the same time, Zcash-adjacent efforts such as Shielded Labs, which includes founder Zooko Wilcox, have secured about $1.16 million in funding from Gemini and the Winklevoss twins, offering some counterweight to near-term pessimism.
ZEC Price Trades Below Resistance as Momentum Fades
Zcash’s technical profile remains tilted to the downside on the daily timeframe. Indicator readings show 13 sell signals versus three buys, with the moving-average stack firmly in “strong sell” territory as price continues to trade below the 10-, 20-, 30-, and 50-day EMAs. Momentum has softened rather than reversed. The RSI at 38.65 sits below neutral, consistent with fading buying pressure without reaching oversold conditions.
Broke Doomer’s analysis reinforces that caution. While lower timeframes show a short-term bounce, he stresses that the higher-timeframe structure has not improved. Former support has flipped into resistance, and ZEC remains pinned below key higher-timeframe levels. In that context, upside attempts have stalled rather than developed into sustained continuation.
He also highlights clear liquidity resting much higher on the chart, near the $720 area. That liquidity represents a potential longer-term magnet, but it does not alter the immediate setup. According to his read, structure has yet to flip, and Zcash price has already logged multiple downside breaks, leaving the market vulnerable if short-term relief bids fade.
Near-term downside attention remains on the $350 zone, where buyers previously stepped in to arrest the January slide. As long as the ZEC coin price holds above that area, losses have so far been contained. Still, with the daily structure unresolved and resistance overhead, the broader timeframe continues to favor defensive positioning rather than trend confirmation.
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