Zcash (ZEC) Price: Down 30% in a Month – Is the Correction Nearly Over?

TLDR

ZEC recovered above $1,100 after a daily low near $1,050, trading at $1,135.48 per CoinGecko on Oct. 19. Grayscale’s Zcash ETF recorded $19.15 million in weekly outflows, its third straight week of withdrawals. Futures open interest fell to $2.36 billion from $3.29 billion last month, according to CoinGlass. Shielded ZEC balances rose 1% over 28 days to 4.96 million ZEC. Resistance sits between $1,184 and $1,240, with support near $1,050 and $1,000.

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Zcash has recovered above $1,100 after dipping below that level during the past 24 hours. CoinGecko data from Oct. 19 put ZEC at $1,135.48, up 3.8% over the day but down 10% over seven days.

Zcash (ZEC) Price

The privacy coin ranks tenth by market capitalization at $19.29 billion. Daily spot trading volume was $1.005 billion. The day’s range ran from $1,049.90 to $1,186.79.

ZEC remains well below its September levels. It closed at $1,438.21 on Sep. 30 and $1,301.16 on Oct. 2. Against the latest price, those closes are down about 21% and 12.7%.

Invezz reported ZEC near $1,165 after three bearish weekly closes left it down about 30%. Last week alone brought an 11% decline.

ETF Outflows and Falling Futures Interest

Grayscale’s Zcash ETF saw $19.15 million in net outflows last week, according to SoSoValue. That followed outflows of $30.72 million and $93.56 million in the two prior weeks.

The three-week total comes to about $143.43 million. The pace of withdrawals has slowed, but redemptions still outweigh new investment.

Derivatives activity has also cooled. CoinGlass showed futures open interest at $2.36 billion, down about 30% from $3.29 billion last month. Falling prices can also lower the dollar value of those positions.

In a separate Oct. 19 snapshot, CoinGlass recorded $2.29 billion in open interest and $13.55 million in liquidations over 24 hours. Futures turnover was roughly 12.6 times spot turnover.

Analyst Ardi (@ArdiNSC) said many traders are turning bearish on ZEC while he believes the correction is in its final stages. He said the time to be bearish was when ZEC lost $1,420, when the daily swing structure broke.

Everyone is becoming increasingly bearish on $ZEC, while I believe we’re approaching the final stages of this correction.

The time to be aggressively bearish was when we lost $1,420. The daily swing structure broke which gave us the basis for our bearish outlook, and we’ve been… pic.twitter.com/pfJh0gMWW1

— Ardi (@ArdiNSC) October 19, 2026

Ardi said a loss of the neckline of a macro head and shoulders pattern would likely bring a hunt for liquidity near the prior all-time-high region. He still expects a final leg lower, then consolidation and an eventual move higher.

On-chain data shows a different picture. Zcash Stats recorded 4.96 million ZEC in shielded pools on Oct. 18, up 1% from 28 days earlier. That is about 29.2% of total supply.

Chart Levels and Network Updates

On the daily chart, ZEC trades below its 50-period EMA at $1,184. A descending trendline near $1,229 and the 200-period EMA at $1,240 add more resistance. The MACD sits just above its signal line but remains negative, and the RSI is below 50.

Source: TradingView

Honestly, it looks like a bounce still hunting for conviction. Bulls need a clean push through $1,184 to change the tone. Support sits near $1,050, then $1,000, with $888 in view below that. Watch the $1,184 level next.

Developers are targeting Nov. 5 for the NU7 upgrade, with a mainnet activation decision expected Oct. 20. The upgrade would cut block spacing from 75 seconds to 25 seconds.

Winklevoss Asset Services has also filed for a spot Zcash ETF, which would trade on Nasdaq under WINK. The filing is an application only, and trading has not begun.

Separately, Zakura developer Adam Tucker proposed separate viewing keys for swap addresses. The design aims to limit exposure to future quantum attacks on NEAR Intents swaps.

CoinGecko showed a positive eight-hour perpetual funding rate of 0.0089%.

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