ZEC Crashes 22%, Traders Start to Lose Money: Analyst Sees Under $200
Zcash ZEC $365.9 24h volatility: 19.5% Market cap: $6.01 B Vol. 24h: $1.11 B recorded a whopping 22% fall within a single day, as prices dropped toward the $360 zone. The crash put pressure on traders who entered aggressive positions at higher levels and turned what once looked like a breakout to $10,000 into a deep correction.
A notable wallet that opened a massive long position of 20,386 ZEC ($7.3 million) only nine days earlier is now deep under water, locked in $4.4 million of unrealized losses. As per Lookonchain, to avoid liquidation, the trader deposited another 1.5M USDC.
ZEC Price Analysis: Under $200?
ZEC is trading almost 94% beneath its all-time high, seen over nine years ago. The pullback saw the altcoin breaking below the ascending trendline on the chart and leaving traders to reassess short-term expectations.
Interestingly, analyst Crypto Patel, who previously alerted followers about the risks above the $700 area, pointed out that discipline rather than hope drives survival during drastic reversals. He now expects ZEC to reach under $200 after multiple price pullbacks.
Patel also expects a relief bounce toward $400–$450 before any deeper crash. The chart below shows a decisive break beneath trend support as the supply zone between $700 and $800 remains untouched after the rejection.
The psychological support appears near $300, but a failure there increases the probability of a drop below the $200 area.
ZEC price action inside a rising wedge | Source: TradingView
Vitalik Buterin’s Warning
Ethereum co-founder Vitalik Buterin urged the ZEC community to resist token-based governance and argued that such models concentrate influence and weaken safeguards that protect privacy.
He drew attention to how decisions driven by median token holders tend to prioritize short-term incentives rather than core principles. For a project that is focused on privacy, the governance model determines whether the protocol stays true to its roots.
ZEC Crash Nears: PEPENODE Presale Hits $2M Mark
While ZEC traders face losses, PEPENODE, an innovative crypto project, is entering the market spotlight with a brand new approach to digital asset mining.
PEPENODE allows users to build their own virtual meme coin mining rigs and gives them a digital space where mining plays out more like a personal project. Users can shape their own setup, adjust it, and watch it grow at their own pace.
While blending personal progression with token utility, PEPENODE has raised a whopping $2.2 million in its ongoing presale, with 30 hours until the next price increase. With staking rewards at 579%, early backers stand to gain the most.
Want to buy PEPENODE in the ongoing crypto presale? Learn more about the project alongside the token’s price prediction on Coinspeaker.
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