🔸The internal conflict leading to the departure of the ECC team triggered panic, causing ZEC to drop below the 450 mark and plunge into the 380 range. Although the former team quickly established a new company named CashZ to continue developing the wallet, this split has made the network upgrade roadmap unclear. The risk is further heightened as technical indicators are all declining; if the support level at 371 is broken, investors may face a scenario where the price falls straight down to the 300 range.
🔸Although the Zcash Foundation asserts the protocol is still operating normally, the reality is that development activity has hit rock bottom since 2021. A short-term recovery above $400 is only feasible if Bitcoin maintains the $90,000 level, thereby boosting overall market sentiment. For long-term investors, the $300 price range could be considered an ideal accumulation point based on Fibonacci levels
🔹Zcash is facing an existential challenge; if confidence is not regained soon, a further 40-50% drop in value is entirely possible
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This article is not investment advice. The market is always volatile—carefully consider your decisions and invest responsibly