As per CoinEdition, Zcash (ZEC) is testing crucial support near $361 amid persistent selling pressure and a breakdown below key resistance levels. The token trades near $363 after losing major support zones, with further downside risks to $320–$300 if the current level fails. Derivatives activity has cooled, with open interest declining as traders reduce exposure. On-chain data shows a $39.34 million net outflow, signaling distribution pressure. Governance concerns have also resurfaced, with Vitalik Buterin criticizing token-based governance and its potential impact on privacy. Market participants are closely watching whether ZEC can stabilize at current levels or continue its downward trend.
Zcash Price Prediction: ZEC Slides Toward $361 as Governance Debate and Selling Pressure Intensify
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