Zcash price is hovering near a key technical support zone after weeks of steady losses, with traders watching closely for signs of short-term exhaustion.

As of this writing, Zcash was trading at $289, down 1.7% in the past day. The token has struggled to keep pace with recent market moves and remains one of the few large-cap assets in the red despite a slight crypto market rebound.

Zcash (ZEC) has fluctuated between $282 and $401 over the last week, but the trend has clearly shifted lower. The token is down 21% in the last seven days and has lost 43% over the past month, giving back much of its late-2025 rally.

Market activity has softened as prices fell. Zcash recorded $423 million in trading volume in the past 24 hours, a 15% drop. Derivatives tell a similar story.

CoinGlass data shows futures volume down 20% to $1.14 billion, while open interest edged slightly higher to $451 million, suggesting some traders are holding positions rather than aggressively adding new exposure.

Why Zcash is still under pressure

The recent weakness comes after a strong rally late last year and is likely the result of profit-taking combined with unresolved governance problems. In January, the entire core development team at Zcash developer Electric Coin Company resigned, including chief executive officer Josh Swihart.

The departures followed a dispute with the Bootstrap non-profit board over governance design, funding access, and control of major products such as the Zashi wallet. The Zcash network itself has not experienced any technical issues or security problems.

However, sentiment has been impacted by uncertainty about planned upgrades, development schedules, and future direction. At the same time, regulatory pressure continues to weigh down on privacy tokens. 

The most recent decline appears to be a grinding consolidation rather than a sell-off triggered by panic. ZEC may be exposed to further decline if nearby support levels give way because each bounce attempt has faded rapidly.

Recent marketing initiatives might provide some temporary relief. In an attempt to raise awareness and spark interest, Zcash has launched new advertising campaigns with updated branding.

If market conditions improve, stronger engagement might help stabilize price action, but it is unlikely to stop the trend on its own. 

Zcash price technical analysis

ZEC is trading close to the lower Bollinger Band near $290 on the daily chart. Although it does not guarantee a reversal, this area often indicates short-term exhaustion following prolonged declines.

The price is still below the 20-day moving average, which keeps the overall trend downward. In the past, short relief bounces have been preceded by the relative strength index falling into the low-30s like in the current setup.

Any attempt to move higher might encounter resistance in the $320–$350 range, where the short-term averages and middle Bollinger Band converge.

A brief push toward $310–$330 may occur if buyers intervene, particularly if the RSI stabilizes and the price returns to the mid-Bollinger range. On the downside, ZEC would be vulnerable to larger losses if it breaks below $280, with little visible support until lower psychological levels.