Zcash price slid hard over the past 24 hours, changing hands near $238 and sitting at the top of the market’s loser board after a 14.38% drop on the day. Price faded steadily from the $270s and then accelerated lower, with selling picking up during the European session and carrying into early Asia.
Losses have been building for days. ZEC is now down more than 35% over the past week. Turnover rose as the decline deepened, with approximately $455 million in tokens traded over the last 24 hours, a 13.54% increase that suggests aggressive selling rather than a lack of bids.
DFSA Restriction and Market-Wide Liquidations Weigh on ZEC
In January 2026, the Dubai Financial Services Authority moved to prohibit licensed DIFC venues from listing privacy-focused cryptocurrencies such as Zcash. While not a nationwide ban, the decision underscores growing regulatory resistance to privacy-by-default features under stricter AML standards.
For Zcash, the rule matters because regulated platforms and compliance-sensitive funds tend to react quickly to such signals. The prospect of reduced venue access and potential delistings forces some holders to exit preemptively. That dynamic feeds directly into weaker spot demand and a lower willingness from institutional participants to allocate.
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Macro pressure added another layer. The total crypto market capitalization declined by 6.42% over 24 hours as Bitcoin fell to a 15-month low near $72,870 on 4 February. A partial U.S. government shutdown and heavy derivatives liquidations triggered broad de-risking. The Fear & Greed Index fell to an extreme fear reading of 11, a level associated with forced selling and limited bid support.
Zcash tends to closely track this type of environment. When panic hits, coin-specific narratives fade, and correlation rises. The jump in ZEC trading volume confirms that sellers were active during the decline rather than waiting for stabilization.
Zcash Price Stays Below Key Averages as Momentum Weakens
On the 4-hour ZEC/USDT chart, Zcash remains below all major moving averages. Bollinger Bands are turning down and widening, showing sellers still in control. The mid-band is near $280, the lower band around $245, and the price has already broken beneath it, with little sign of buyers stepping in.
RSI (14) is hovering near 23, deep in oversold territory. That level can produce brief relief moves, but it does not imply a trend reversal by itself. Momentum remains pointed down, and RSI has yet to show any meaningful turn higher.
TradingView’s aggregated technical summary on the daily timeframe prints a “Sell” bias, while moving averages register “Strong Sell.” Short- and medium-term EMAs and SMAs, ranging from 10 to 200 periods, all point downward. MACD also remains in sell mode, suggesting that downside momentum remains in control.
Near-term support is forming in the $235–$240 zone, where price briefly attempted to stabilize during the latest leg down. A failure to hold that area would leave little chart structure until the low $220s. On the upside, initial resistance sits near $245–$250, followed by heavier supply around $280, where the 20-period moving average and Bollinger midline converge.
In the near term, the Zcash price remains in a clear downtrend. Any rebound attempts are likely to face selling unless broader market conditions improve and regulatory pressure on privacy coins eases.
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