Zcash falls below $381, head-and-shoulders points to $253 downside

Beincrypto reports Zcash slipped below $381, activating a head-and-shoulders breakdown that projects a downside target near $253 and implies roughly a 30% move if weakness continues.

On the 12-hour chart the price broke the neckline near $381 and also fell below the 200-period exponential moving average, while the 20-period EMA crossed under the 100-period EMA, signaling weakening momentum. Sentiment collapsed from nearly 90 to roughly 5, a drop of more than 90%, thinning bids as price fell. At the same time, large holders accumulated: the top 100 ZEC holders increased balances by 47.71% (about 15,000 ZEC), standard whale wallets added roughly 2,000 ZEC (11.44%, about $780,000), and combined whale buying totaled close to 17,000 ZEC, roughly $6 million; public figure wallets rose nearly 20% while exchange balances increased, suggesting retail selling. Whale buying has slowed the fall but has not stopped the breakdown.

Key levels to watch are $361 on the downside, then $326 and the full breakdown target near $253. To invalidate the bearish structure Zcash must reclaim and hold above the 200-period EMA near $407; clearing $407, $436 and $482 would signal stabilization. For now ZEC remains between technical damage and quiet accumulation, and whether the breakdown fully plays out depends on whether sentiment recovers enough to restore the lost structure.

Key Topics

Crypto, Zcash, Zec, Market Sentiment, Whale Accumulation