ZEC is trading around $980 after a 13% to 15% decline that pushed it to a low of $960 and erased much of its September rally toward $1,700. Its weekly loss now exceeds 26%, despite Grayscale’s $1 million commitment to Zcash development, privacy research, and community initiatives. Grayscale’s Zcash ETF, ticker ZCSH, also recorded $46.25 million in outflows during October, followed by nearly $30 million in withdrawals through November 11. Technically, the 0.5 Fibonacci retracement and the $1,000 level are decisive: a sustained recovery could target $1,100 and then $1,200, while a breakdown could open the way to $900 and $800. The RSI near 34 shows stretched selling momentum, but Bitcoin’s stabilization will remain necessary to confirm a potential reversal.
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