Zcash (ZEC) is under intense pressure after plunging by nearly 11% in the past 24 hours to around $427, extending its seven-day losses to roughly 19%. The drop has been caused by the resignation of its core developing team, a scenario that favors a bearish Zcash price prediction in the near term.
A total of 25 members departed from the Electric Coin Company (ECC), one of the core development teams behind Zcash. They reportedly resigned amid a governance dispute with Bootstrap, a nonprofit created to support the network.
According to former ECC CEO Josh Swihart, the team was “constructively discharged” after changes to employment terms made it impossible to continue working “effectively and with integrity.”
Swihart accused several Bootstrap board members of deviating the project from its original mission, a claim that has fueled uncertainty concerning its future governance structure rather than its underlying technology.
Advertisement
Despite assurances from Zcash founder Zooko Wilcox that the protocol itself remains secure, open-source, and unaffected, his words did not convinced the market.
Trading volumes have surged by more than 150% to $1.4 billion in just 24 hours, accounting for nearly 20% of ZEC’s market capitalization. This spike in selling pressure strongly suggests panic-driven repositioning.
Governance instability is one of the most damaging risk factors for tokens like Zcash. Although the network’s integrity was not compromised, its roadmap and progress may slow down as a result of this development.
That backdrop explains why ZEC’s sell-off has been sharper than the broader market.
Zcash Price Prediction: Break of Structure Opens Door to $300
The latest price action confirms this bearish narrative. ZEC has decisively broken below the 50% Fibonacci retracement of its prior rally and is now testing the 61.8% level near $400.
This zone had previously acted as a pivotal area. Hence, losing it would mean a shift in the token’s short-term outlook, favoring a bearish outcome.
There was also a clear rejection from a rising trendl ine that had supported Zcash’s December rebound.
Failing to stay above the 38.2% Fibonacci, followed by a strong bearish candle, signals that bulls are struggling to keep the price above recovery levels.
The next major support to watch sits near $300, the price level that triggered the latest rally. If selling pressure persists and sentiment remains fragile, this zone becomes a realistic downside target in the near term.
Momentum indicators offer little relief. The Relative Strength Index (RSI) has slipped back toward the low-40s after failing to stay above neutral territory. A move below the 14-day moving average also confirms a trend reversal and could anticipate further losses ahead for ZEC.
ZEC would need to reclaim the $480–$500 region and stay above it to invalidate this bearish outlook, as that would suggest that the market has absorbed the negative news.
Although Zcash’s prospects have deteriorated as a result of today’s leadership shake-up, a new project called Church ($CHRCH) is a promising newcomer in a relatively unexplored segment of the crypto market – faith-based tokens.
Introducing Church ($CHRCH): Web 3 Meets Christian Faith
Church ($CHRCH) is leveraging the speed and efficiency of the Solana blockchain to improve resource allocation across Christian churches.
The project is designed to follow a blueprint that includes the launch of a fully operational DAO through which churches across the globe can get the funding they need to further expand the Kingdom of God.
The Core Mechanisms:
- Community Governance: Token holders participate in a voting system to select promising projects submitted by churches globally.
- Fair Distribution: The protocol ensures funds are routed transparently to the chosen initiatives, bypassing traditional bottlenecks.
As a nascent project, early participation is key to establishing the governance layer. $CHRCH is currently available on Raydium.
To buy this token at this early stage, follow these three simple steps:
- Head to Raydium (or your preferred Solana DEX).
- Connect your wallet.
- Swap for $CHRCH (Address: 75WUVMhKmrdRXCk5whH5ryyH5XocuLNca3yMC3ySXray) and help this project build a decentralized future for church giving.
