Zcash Faces Potential 50% Price Drop Amid Bearish Market Signals

The cryptocurrency market's total cap is approximately $2.89 trillion, with Zcash facing volatility. Despite attempts to surpass the $750 price mark, Zcash has experienced resistance and recently fell below $672, suggesting potential bearish movement.

Zcash Price Prediction

Analyst PlanD forecasts a possible drop to $281, indicating a 50% decrease from current levels.
This aligns with Ali Martinez's prediction of a correction to around $325.

Despite these technical challenges, institutional support and upcoming events like the Zcash halving on November 28 inject bullish factors. Cypherpunk Technologies, backed by Tyler and Cameron Winklevoss, launched a $50 million Zcash treasury strategy.

ZEC Price Overview

Current price: $490.52, experiencing a 24.11% decline in 24 hours.
Daily trading volume: down 6.1%, valued at $2.24 billion.
Monthly performance: increased by 99.41% despite a 28% reduction in overall market cap.
Annual growth: surged by 928%.
Market cap: $7.8 billion, ranking as the 13th largest cryptocurrency.

Zcash