Zcash Price Forecast: Social Sentiment Indicator Favors Drop to the Low 300s

Zcash (ZEC) has dropped by 8% in the past 7 days following a confirmed rejection of a key resistance we flagged days ago at $525.

Trading volumes have been dropping from a recent peak of $640 million to less than $400 million in the past 24 hours, as the buying pressure that pushed ZEC from $250 to $500 seems to have evaporated.

This privacy token quickly recovered from the hit it took in early June, following the reveal of an exploit within the blockchain’s coding that would have allowed uthorized parties to mint an unlimited amount of ZEC without anyone noticing.

The price hit dropped to as low as $250 after the news broke, but a strong cluster of buy orders sustained the price and pushed it back above the 200-day exponential moving average (EMA).

In our latest Zcash price prediction articles, we emphasized that this could be a short-lived recovery as the project’s credibility could have been undermined by this incident.

Social Sentiment Indicators Send Strong Sell Signal

Back on July 13, we set our short-term target of $525 for ZEC and highlighted that this supply zone could backstop this recovery and potentially resume the token’s downtrend if the selling pressure accelerated.

We are starting to see evidence that this scenario is unfolding, as the price of ZEC has dropped for 6 days in a row after the token neared the $600 level.

Although social volumes sent a buy signal earlier this month, the situation has changed. Data from Santiment shows that the 7-day moving average for social mentions has now dropped below the 30-day moving average.

The last time this happened was in early June, back when news of the exploit hit the internet. The price dropped from a peak of $520 to $380 in just a few days.

Meanwhile, in two previous occasions that this bearish crossover happened, the price plummeted from $550 to $320 (November–December 2025) and from $400 to $200 (January-February 2026).

This confirms a downside risk of around 40% to 50% for the token in the near term, meaning a potential drop to $300 this time.

Zcash Could Drop to the Low 300s If This Happens

Looking at the daily chart, the first support area in sight would be the 200-day exponential moving average (EMA) at $400. Zcash has bounced off this mark a couple of times recently, which increases the odds of a technical bounce in the next few days.

However, if we break below that level, it is highly likely that ZEC will revisit the low 300s, consistent with the result that this social sentiment signal has yielded in the past.

Meanwhile, the Relative Strength Index (RSI) just crossed below the signal line. At 57, this oscillator has not yet confirmed a sell signal. However, this bearish crossover is an early indication that momentum has shifted from bullish to bearish based on the latest price action.