Technical analysis by BeInCrypto about Symbol ZEC on 12/2/2025

ZEC previously posted a massive 1,442% rally during the peak of the privacy-token narrative. That momentum faded at the start of November, and the altcoin has since crashed 56% from its highs. A staggering 43% of that loss occurred in just the last week, pushing ZEC down to $323. If this trend continues, Zcash is likely to break below the $300 support level and fall toward $260, or even $204, erasing more of its earlier gains. However, Arthur Hayes believes crypto markets follow distinct yearly narratives. According to him, 2025 revolved around AI-linked tokens and the rapid expansion of stablecoins, but 2026 will center on privacy. He says this pivot could spark renewed interest in privacy-driven cryptocurrencies and the underlying tech that supports them. Thus if buyers return at these discounted levels, ZEC could attempt a bounce from the $344 area. A recovery toward $442 and eventually $520 would be needed to invalidate the current bearish outlook.