Zcash Falls 0.6% to $1,326 as Grayscale ETF Records First Weekly Outflows

Zcash USD fell 0.6% to $1,326.40 in the past 24 hours, with the broader move driven by $93.6 million in outflows from the Grayscale Zcash Trust (ZCSH) last week. The ETF’s first net outflow since launch marks a reversal from prior institutional inflows and removes a key source of buying support. No coin-specific negative catalyst emerged; the decline appears tied to profit-taking after ZEC’s 179.92% gain over 90 days and softer overall crypto market conditions.

Why Grayscale ETF outflows matter for Zcash

The Zcash Trust’s $93.6 million weekly outflow signals institutional investors are not buying dips in privacy assets. This reversal removes a steady source of demand that had supported the rally. Regulated product flows turning negative test whether the privacy narrative can hold without institutional backing.

Technical picture shows RSI neutral but ADX confirms strong trend

The RSI sits at 52.43, neither overbought nor oversold, suggesting no extreme momentum in either direction. The ADX reads 52.79, confirming a strong underlying trend despite the day’s modest decline. Price remains well above the Bollinger Band lower support at $1,015.85, with the upper band at $1,693.52 still offering room above current levels.

Zcash tests critical support near $1,270 to $1,300

ZEC is now testing a key support zone between $1,270 and $1,300 where buyers have stepped in before. A daily close below $1,270 would invalidate near-term support structure and open a path to $1,155. The NU7 upgrade, with testnet activation expected around October 6, provides fundamental support if price holds current levels.

Meyka forecasts show sharp divergence between near and long term

Meyka’s one-month forecast of $1,370.74 is 3.3% above the current price, suggesting a modest recovery. However, the 12-month forecast of $288.80 is 78.2% below current levels, reflecting deep uncertainty about Zcash’s longer-term trajectory. Forecasts may change due to market conditions, regulations, or unexpected events.

Final Thoughts

Zcash’s 0.6% decline reflects institutional retreat rather than panic selling. The real test comes in the next 48 hours: if price holds above $1,270, the privacy asset may stabilize; a break below opens a deeper correction.

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Disclaimer:

Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.