Zcash price cools off after massive run: Here is the deal

The Vibe Check

ZEC is looking a little shaky today. The privacy coin is currently sitting at $1,333.50, marking a 7.29% slide over the last 24 hours. If you’re checking your bags, this puts Zcash roughly 21% off its recent high of $1,698.00. While a 21% dip sounds like a L, it’s worth noting that the coin previously went on an absolute tear, rallying about 253% from its $480 base.

Why it’s dipping

The broader market isn't exactly carrying ZEC right now. Bitcoin had a brief spike to $85,600 following some softer inflation data, but the momentum didn't hold. On the institutional side, the Grayscale Zcash ETF (ZCSH) is seeing some movement. After hitting $233 million in net inflows by mid-September, the fund just saw a $30.25 million net outflow yesterday.

Hack drama

Sentiment is also taking a hit from the fallout of the $387 million Bitget hack that went down on Sept. 24. While Bitget's CEO suggests the attack mirrors North Korean hacker groups, official attribution is still pending. To make matters more complicated, on-chain investigator ZachXBT spotted roughly $3.9 million worth of ZEC moving into the coin’s shielded pool—a feature that hides transaction details. While this amount is small compared to the total hack, it’s definitely not the main character energy ZEC needs for Wall Street adoption.

Technicals: Is it over?

Don't panic-sell just yet. While momentum has cooled, the technical indicators are still showing signs of a correction rather than a total collapse. The Relative Strength Index (RSI) is sitting at a neutral 50.2, which is actually a relief after the coin was previously overbought. The 50-day EMA remains above the 200-day EMA, keeping the bullish structure intact for now. If the price slides further, a daily close below $1,233.00 could signal more downside, while reclaiming $1,410.72 would likely get the bulls back in the driver's seat.

Why it matters

Markets rarely go up in a straight line, and after a 253% sprint, a 21% pullback is lowkey expected. This isn't financial advice—always DYOR—but for now, the charts suggest this is a cooling-off period rather than a total trend reversal.