Key takeaways:
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ZEC charts mirror BNB’s pre-crash parabola, hinting at a possible correction to the $220–$280 vary subsequent.
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Analysts warn of “pump-and-dump” dynamics amid paid promotions, though some crypto veterans stay bullish long run.
Zcash (ZEC) has dropped about 30% from its November peak of $750, elevating fears of deeper losses forward, with some analysts warning of a possible “pump-and-dump.”
Symmetrical triangle hints at 50% ZEC worth drop
As of Monday, Zcash traded inside a symmetrical triangle sample on the four-hour chart, reflecting indecision amongst merchants following its 1,500% worth rally since late September.
The setup additionally adopted a rebound from the 200-4H exponential shifting common (200-4H EMA; the blue line), a key assist trendline, suggesting a doable transfer towards the triangle’s higher boundary close to the 0.786 Fib degree at $686 in November.
Symmetrical triangles can break both method, relying on the broader market sentiment.
In ZEC’s case, the market sentiment stays fragile, pressured by uncertainty over Federal Reserve price coverage and stretched AI sector valuations, that are hurting threat belongings.
Thus, a breakdown under the triangle’s decrease trendline seemed to be the probably consequence if prevailing macroeconomic circumstances persist within the coming weeks.
Such a transfer may push ZEC towards its $282 draw back goal, which is roughly 50% under present ranges, by early 2026.
The extent aligns with the native tops established in early October, in addition to the 20-period EMA (represented by the inexperienced wave) on the weekly chart.
BNB parabola warns of 60% Zcash worth correction
Zcash’s present construction resembles the parabolic rise and breakdown beforehand seen in BNB (BNB) earlier than its steep correction, in accordance with dealer Nebraskangooner.
Very similar to BNB’s 2021 setup, ZEC has misplaced momentum after an overextended rally. Its worth didn’t reclaim its parabola assist, as anticipated by Zcash bulls who projected a $1,000 goal earlier in November.
As NebraskanGooner famous, such patterns typically preceded deeper retracements of at the very least 60%. That brings ZEC’s potential draw back goal to the $220–$280 vary.
Analysts again pump-and-dump narratives
Including to bearish sentiment, Mark Moss, a Bitcoin-focused enterprise capitalist and educator, shared screenshots of outreach messages from advertising businesses providing paid ZEC collaborations.
Market analyst Rajat Soni cautioned that the current hype round ZEC could also be an effort to “discover exit liquidity,” citing fabricated headlines that falsely claimed Constancy analysts predicted Zcash may hit $100,000.
In opposition to the bearish tide, crypto bigwigs, comparable to BitMEX founder Arthur Hayes and Gemini co-founders Tyler and Cameron Winklevoss, stay bullish on Zcash, with the previous anticipating ZEC worth to hit $10,000.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer includes threat, and readers ought to conduct their very own analysis when making a choice.