Zcash (ZEC) Price Drops 4% Following Selling Pressure
The post Zcash (ZEC) Price Drops 4% Following Selling Pressure appeared on BitcoinEthereumNews.com.
On April 17, the Zcash price dropped by around 4.39% on a daily chart, forcing its value to drop below $330 following growing selling pressure due to profit booking. The drop comes amid the bullish sentiment in the overall crypto market, where Bitcoin (BTC) soared above $77,000 amid reduced geopolitical tension. Technical indicators are showing a bearish trend in the cryptocurrency, supported by the altcoin season index. Despite the bullish sentiment in the overall crypto market, the leading privacy coin, Zcash (ZEC), suffered a drop of around 4.23% on a daily chart, declining its value by $330. At present, Zcash is trading at around $328.69 with a market capitalization of $5.46 billion, according to CoinMarketCap. The daily trading volume is revolving around $468.36 million. While the ZEC price witnessed back-to-back drops in the last few days, it still has a monthly gain of around 33%. Zcash Faces Correction Despite Bullish Sentiment in Crypto Market The decline comes even while the crypto market is showing mixed signals with selective profit-taking across alternative coins. Bitcoin traded with limited movement around recent levels after earlier gains, and this created a cautious environment for privacy-focused tokens like Zcash. According to experts, investors mentioning short-term profit booking following a strong rally in ZEC earlier in 2026 as one major reason behind the current drop. During the last few trading sessions, many traders have purchased ZEC at low prices. Now, they are selling their tokens. The current drop comes after facing a rejection at $350, which played a role as a major resistance level. ZEC has followed a consolidation pattern between $320 and $350 for many weeks after an earlier surge. The recent sessions saw the price break above an important support level around $340, and this breakdown triggered additional sell orders from traders watching the…
Filed under: News - @ April 17, 2026 10:26 pm