Zcash (ZEC) faces significant selling pressure, dropping over 6% to approximately $217 on Monday, March 23, 2026. Technical analysts warn its critical support near $190 is weakening, with a potential breakdown threatening a deeper correction toward $126. The bearish trend is considered intact unless ZEC can reclaim the $300 resistance level.
The privacy-focused cryptocurrency Zcash experienced a sharp decline, falling more than 6% to trade around $216.78. Trading volume increased by nearly 21% to $332.2 million during the price drop, suggesting heightened selling activity. The asset has also declined 5.26% over the past week, reflecting sustained weakness.
According to crypto analyst Extropic, ZEC’s recent 33% rally has fully retraced, with price action now forming a clear pattern of lower highs and lower lows. The asset is consolidating just above a critical support zone between $190 and $200. Analysts warn that repeated pressure on support typically weakens it, increasing the probability of a breakdown.
If ZEC loses the $190 level decisively, technical projections suggest a move toward $126, a previous demand zone. However, any short-term upside may remain limited unless the asset can reclaim prior resistance levels and shift its overall market structure.
Analyst Third Eye maintains a bearish outlook, pointing to a consistent downtrend marked by descending resistance and lower highs. A recent bounce toward $270 was described as a liquidity grab rather than a sustained reversal. Key support levels to watch include $210 and $190, followed by deeper downside targets at $160, $120, and potentially $60.
On the upside, analysts say ZEC would need to reclaim the $300–$330 range to invalidate the current bearish trend. The breakdown of the previous support zone in the low $300 range, which has now flipped into resistance, highlights the presence of trapped buyers exiting positions during rallies.
