What has been happening with ZEC recently?

1. Many people sold to take profits

Previously, ZEC surged significantly, leading many investors to sell for profits, which caused the price to drop rapidly.

2. Breakthrough of the "upward channel"

Technically, ZEC has broken below the upward trend line, which usually triggers a significant decline.

3. Decrease in actual demand

ZEC is a privacy coin that previously garnered a lot of attention, but now the demand for anonymous transactions has not increased.

4. Overall weakening of the crypto market

Bitcoin and other mainstream coins have declined, dragging down altcoins like ZEC, and the declines are usually larger.

→ The decline in ZEC is the result of multiple overlapping factors: heavy selling pressure, unfavorable technicals, decreased actual demand, along with an overall weak market.