Everyone Talked About the Zcash (ZEC) Crash, But Almost Nobody Noticed the Recovery

There has been a remarkable rally for Zcash in the last seven days. Having fallen from $621 to as low as $299 within the space of 36 hours, Zcash is now trading at $437, representing a recovery of nearly 46%.

What makes the move even more interesting is that it happened with almost no social buzz. Santiment data shows social volume moved to 434 mentions during the June 5 selloff, making it the loudest six-hour period of the month. 

As the ZEC price recovered, those discussions almost disappeared, dropping to only 10–20 mentions per six-hour window. That kind of “quiet recovery” often catches traders’ attention because price is moving higher without the usual wave of retail excitement.

One ZEC Resistance Zone stands In The Way

We had a look at the chart shared by Aman, and the recovery is clear. The ZEC price bounced sharply from the $299 capitulation low and has been grinding higher ever since. Even so, the technical picture hasn’t fully turned bullish.

Before the crash, the ZEC price rallied from roughly $280 in April to almost $680 in early May. That move was followed by several lower highs between $560 and $680, a pattern that often appears when buyers begin losing control. 

The real breakdown came when support around $480–$520 failed, sending the price into a rapid selloff. Now that same $480–$520 zone has become the biggest obstacle for bulls. The main moving average is also close to $492, creating an area where sellers could become active again.

Momentum indicators back up the cautiously optimistic perspective. The RSI has returned to levels around 51.9 from falling near 20 amid the crash, though it continues to track a downward trendline. According to analyst Aman, the bearish divergence in RSI persists, indicating that the ZEC price might have a hard time unless it can break above the $480-$500 zone.

The Panic Disappeared Faster Than The Zcash Recovery

The June selloff wasn’t caused by technicals alone. A public disclosure about a four-year-old counterfeiting flaw in the Orchard shielded pool triggered widespread concern across the crypto community.

The flaw was already fixed even before becoming known to the public, and there has been no indication of its exploitation whatsoever. Nevertheless, doubts about security led to panic selling, contributing to the decline of the ZEC currency by almost 52% within two days.

On the other hand, the way back up is totally opposite. Social volume has fallen by more than 95% from its peak even as the token climbed from $299 to about $437. Instead of emotional buying, the rebound has been gradual and relatively quiet.

Development has continued in the background as well. The Zcash Foundation released Zebra 5.1.0, fixing a long-standing synchronization issue that could leave nodes stuck before reaching the chain tip. The update also includes infrastructure improvements and comes with a recommendation for node operators to upgrade.

What Could Zcash Go Next

The ZEC price has recovered a large portion of its losses, but the next move will likely depend on the $480-$520 area, any move above would place the recovery on much firmer ground, potentially opening up the potential of going towards $560 before testing the old range around $650.

In case the buyers fail to hold on to the resistance, then chances are that the recovery would not be able to pick up momentum, leading to support at $390 coming into play before testing the capitulation level at $299.

At the moment, the technicals remain neutral. The panic which led to the crash is behind us, normalcy has been restored in terms of social activity, and improvements to infrastructure are improving the system. However, ZEC remains in the process of recovery, with one big breakout left.

FAQs

Is Zcash still a privacy coin?

Yes. Zcash remains one of the leading privacy-focused cryptocurrencies, giving users the option to make shielded transactions that hide sender, receiver, and transaction amounts.

What is Zebra 5.1.0

Zebra 5.1.0 is the latest software release from the Zcash Foundation that fixes a long-standing node synchronization issue and includes infrastructure improvements designed to improve network reliability.