Is It Game Over For ZEC? Analysts Warn Of A Fall To $300

Why is it game over for ZEC?

As the crypto market is in a bear phase, BTC is weak and alts getting hammered. However ZEC showed resilience and ran higher but the gas behind the run is over. Chart says a different story – the falling volumes and a double top rejection.

“Most of crypto-town was hoping for an ‘Uptober’. Instead, they were handed an ‘Octobear’.”

As the broader market rolled over, ZEC looked like it might defy gravity—but the fuel behind the run is fading fast.

Also IBIT saw biggest outflows today (November 19, 2025) Source: Arkham

Here are the key warning signs:

1. Volume is drying up and chart structure is deteriorating

• Our analysts describe ZEC as entering a “bubble” phase — trading volume and turnover now exceed the 2021 peak.
• A high-volume speculative surge typically precedes distribution. When volume starts to fall while price struggles to make new highs, it often signals the end of the up trend.
• In other reports, despite ZEC’s run, metrics show a mismatch: the on-chain “shielded pool” (for privacy use) grew early on, but later the share of genuine privacy transactions declined even as price soared.
• In short: The chart showed a double-top rejection, falling volumes, and weakening support — classical signs that the gas is gone and ZEC is ready to fall.

2. Bitcoin is weak and dragging altcoins with it

• The crypto market’s tide is driven by Bitcoin. When Bitcoin loses strength, the rest often follow. Early October 2025(November 10 to be exact) saw Bitcoin fall nearly 20% in a day — a clear risk-off signal.
• Since about 6 October, Bitcoin has been drifting down, which means altcoins like ZEC face headwinds even further.
• With high correlation, altcoins tend to amplify moves. So if Bitcoin breaks supports, ZEC is vulnerable to sharper moves.

3. Key support levels broken — path to $440 and $300 now on the table

• ZEC made a highs around $750, according to some sources.
• It has since slipped below $620, with support around ~$660 failing to hold. That’s a major technical signal.
• When support zones break in a bear environment, they often don’t hold for long. Previous bear markets show that assets don’t gradually respect support—they obliterate them.
• Therefore, if $660 is lost and momentum turns, the next realistic downside targets become ~$440 and further down to ~$300 in 2025.

4. A true bear market doesn’t respect support zones

• In normal corrections, assets bounce off support. In full bear markets, support fails.
• As one article noted: “A break of critical price levels … could signal the start of a broader downtrend” in crypto.
• ZEC’s current structure suggests it is more akin to the start of a deeper correction than a minor dip.

What this means

• The fuel that powered ZEC’s recent rally appears exhausted: volume declining, weak Bitcoin, support zones broken.
• The technicals now align toward a bearish path: from current levels below ~$630 toward ~$440, and potentially ~$300 if ZEC cannot find a stable base.
• For investors or traders, this means risk is elevated. A bounce could happen—but the trend shows more downside risk than upside reward at this stage.

Caveats and what to watch

• If Bitcoin regains strength and macro conditions improve, altcoins including ZEC might recover more quickly than expected.
• Fundamental developments in ZEC (privacy upgrades, regulatory tailwinds) could provide a surprise catalyst.
• But the clear warning: don’t rely on support zones holding if the market is entering a proper bear phase.