Zcash News Today: Zcash Mirrors BNB's 2021 Plunge as Bear Market Tech and Macro Fears Collide

Zcash (ZEC), Starknet (STRK), and Ethena (ENA) are among the top crypto losers in early December, with bearish technical indicators and macroeconomic headwinds amplifying concerns of further declines. Zcash, which surged over 1,500% since late September, has retreated nearly 30% from its November peak of $750, trading around $498 as of Nov. 27 according to data. Analysts warn of a potential 50%-60% correction, drawing parallels to BNB's 2021 parabolic rise and subsequent steep sell-off. The asset is currently confined within a symmetrical triangle on the four-hour chart, a pattern that could break lower if broader market sentiment remains fragile amid uncertainty over Federal Reserve rate policy and AI sector valuations. A breakdown below the triangle's lower trendline could push ZEC toward $282, aligning with key support levels on the weekly chart as reported.

Zcash's technical deterioration is compounded by declining momentum metrics. The Relative Strength Index (RSI) has dipped below 40 on the daily chart, while the MACD and signal line approach the zero line, signaling bearish momentum. A break below the 50-day EMA at $436 could extend the decline to the 100-day EMA at $315, representing a 30% drop. Vitalik Buterin's recent cautionary remarks against token-based voting in Zcash have also intensified selling pressure, with the price falling below $400 and the 50-day EMA as analysts note. Immediate support lies near $300, a level previously tested in October.

Starknet (STRK) and Ethena (ENA) are similarly under pressure. Starknet has fallen over 5% in 24 hours, struggling to hold the $0.1000 psychological level, amid a downtrend from the 50-day EMA. Technical indicators like the RSI (39) and MACD suggest further weakness, with the next support at $0.0962. Ethena, down 5% on Monday, is trapped in a falling channel pattern, with a potential breakdown below $0.2180 threatening a move toward $0.1313 as on-chain data reveals. On-chain data reveals whale outflows, with large holders reducing ENA holdings by nearly 100 million tokens in 24 hours, weakening the case for a sustained rally.

Zcash (ZEC) on a four-hour chart showing a symmetrical triangle pattern with key support levels at $282 and $500. The chart includes RSI and MACD indicators to highlight bearish momentum. The price is currently near $498, with the 50-day EMA at $436 acting as a potential trigger for further declines. The broader market remains uncertain due to macroeconomic conditions and Federal Reserve policy, amplifying the bearish bias in Zcash's technical setup.

Starknet (STRK) and Ethena (ENA) are showing similar bearish tendencies in their price action and technical indicators. Starknet is currently trading near $0.0995, just above the $0.1000 psychological level, but is under pressure from the 50-day EMA and a weak RSI (39). Ethena is caught in a falling channel with a likely breakdown below $0.2180, pushing the price toward $0.1313. The broader market remains bearish due to overlapping macroeconomic pressures, including high-interest rates and uncertainty in the AI sector. Both projects face similar technical challenges, with Ethena's OBV divergence and hidden RSI bearish signals further reinforcing the negative bias.

The broader crypto market's fragility is underscored by overlapping macroeconomic pressures. Zcash's technical structure mirrors BNB's pre-2021 collapse, with traders warning of a 60% correction if the current bearish momentum persists. Meanwhile, Ethena's OBV divergence and hidden bearish RSI signals reinforce the likelihood of a 13% pullback to $0.24. For Zcash, a rebound above $500 could target $600 and the November high of $750, but current conditions favor a continuation of the downtrend.