When I felt like taking a nap at noon, I saw ZEC plummet by 18.5% from $ZEC , and instantly snapped awake.

This isn't just a normal correction—it's a complete crisis of trust.

The entire core development team at Electric Coin Company collectively resigned, just like all the engineers at a company handing in their resignations on the same day. Can you still see a future for this coin?

But the most surreal part is that while everyone is panicking and selling off, Grayscale is still applying for a spot ETF for ZEC. It's like the house is on fire, yet firefighters are lining up at the door to buy the property.

I took a close look at the technicals—RSI has dropped into the deep oversold zone, and the 30-minute chart shows a bottom divergence and a bullish engulfing pattern. Such an extreme oversold condition is either a golden opportunity to buy the bottom, or it's just the prelude to an even bigger bomb going off.

Right now, ZEC is like those star projects from 2018—fundamentals are in serious trouble, yet technical indicators are hinting at a rebound. $381 is the last support level; break below that, and it might head straight for $200.

Let me be brutally honest: the privacy coin sector has never been won by technology—it's always been decided by regulatory mood. The development team has fled, and regulations are tightening. Why would institutions come in?

Either they see something we can't, or they're playing a much bigger game.

The real question isn't whether ZEC will rise—it's whether it can survive. In this market, just staying alive is already winning half the battle.