Zcash just saw one of its sharpest drops of the cycle, and analyst Crypto Patel isn’t surprised at all.
He’d been warning that the move above $700 looked overheated, and now that the ZEC price is sitting near $351, his call has aged perfectly. The coin has already fallen about 50%, and according to Patel, the move might not be finished yet.
What you'll learn 👉
The Drop Started Right at the All-Time-High Zone
Now, if you look at it closely, the turning point is like a textbook case. ZEC just went straight to its past highest resistance point of about $750 and tried to breach it several times.
That breakdown shifted the entire structure. Lower highs formed, volume thinned out, and ZEC drifted back into the mid-$300 range where it’s trading now.
Patel isn’t ruling out a short-term bounce. He thinks the ZEC price could easily rebound into the $400–$450 zone before deciding what comes next. It would give traders a breather, but it wouldn’t change the bigger picture.
The macro trend is still pointing downward. Patel calls the run above $700 a typical euphoric top, the kind that usually cools off with a deeper retracement once hype fades.
How Much Further Could ZEC Drop From Here?
This is where Patel’s chart gets more serious. He still sees a chance for the ZEC price to fall below $200 before finding a real bottom.
His chart points out that there is a large Fair Value Gap between about $135 and $90. That range corresponds to the important Fibonacci levels at 0.618 and 0.786. Sometimes, such areas are thought of as magnets during sharp corrections.
If ZEC moves into that area, it would be an 80% retracement from the top. As harsh as that sounds, it’s actually in line with how ZEC has behaved in previous cycles.
Read Also: Zcash Rally Over? $ZEC Is “Done for Now” Says Crypto Veteran, Shares Key Re-Entry Zones
What’s Next for Zcash?
Zcash’s big rally and rapid drop follow a familiar pattern: hit long-term resistance, fail the breakout, lose trendline support, and retrace deeper.
The short-term setup leaves room for the ZEC price to bounce toward $450, but the longer-term structure still indicates a possible move under $200 before the next real recovery begins.
For now, Patel’s advice is simple, stay patient, stay disciplined, and don’t let the hype or fear drive the decision.
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