- Zcash (ZEC) has fallen toward $1,400 after losing $1,500 support, weakening its strong September rally.
- Traders are now watching $1,360 and $1,170-$1,210 as key support levels ahead of the planned NU7 upgrade.
Zcash (ZEC) has fallen toward $1,400 after dropping below the $1,500 level that supported its September rally. The pullback has put the token under renewed selling pressure, although ZEC remains sharply higher on a monthly basis.
ZEC was trading near $1,412 at the time of writing, down 0.4% over the past 24 hours and 12% over seven days. The token traded between $1,360 and $1,488 during the latest session, while its market capitalization stood near $24 billion and trading volume reached about $1.31 billion.
Despite the recent decline, ZEC is still up roughly 70% over the past 30 days after surging above $1,500 and reaching levels near $1,700 in September.
Zcash Price Tests the $1,400 Support Area
ZEC is now testing an important short-term area around $1,400.
On the daily chart, ZEC has slipped slightly below its 20-day middle Bollinger Band at around $1,410.33. The upper band is near $1,772.26, while the lower band sits around $1,048.41.
Trading below the middle band shows that short-term momentum has weakened after the September rally. A move back above $1,410 could help ZEC regain some of its recent momentum. However, $1,500 remains an important level because the token previously traded above it before the latest decline.
If buyers push ZEC back above $1,500, the $1,600-$1,700 region could come back into focus. That area marked the upper end of the latest rally.
Momentum indicators also show a clear cooldown. ZEC’s 14-day Relative Strength Index (RSI) has fallen to 53.41 after reaching much higher levels during the September advance. Its RSI moving average remains considerably higher at around 65.60.
An RSI above 50 means ZEC is not yet in oversold territory. Instead, the reading points to more balanced momentum after the strong buying seen earlier this month.
Analysts Watch the $1,170-$1,210 ZEC Support Zone
The current decline has also shifted attention toward lower support levels.
Crypto analyst Alpha Crypto Signal identified the $1,170-$1,210 range as a potential area of interest if the Zcash pullback continues. The analyst said a potential long setup would require bullish price confirmation after ZEC reaches that zone.
Chart Request: #ZEC$ZEC is approaching a potential long interest zone after the recent pullback. The lower horizontal support around $1,170–$1,210 is the key area I’m watching for a reaction.
If $ZEC reaches this zone and shows bullish confirmation, I’ll be looking for a long… pic.twitter.com/5noAqJm7r5
— Alpha Crypto Signal (@alphacryptosign) September 29, 2026
The range is also notable because the $1,170 area appeared in Zcash’s earlier market structure. ZEC surged above $1,300 on Sept. 16 after gaining more than 20% in a single session.
For now, the $1,390-$1,410 area remains the first level to watch. A break below $1,400 could expose the recent intraday low near $1,360.
A deeper decline toward $1,170-$1,210 would represent a much larger retracement from the September high. On the other hand, reclaiming $1,500 would signal that buyers are attempting to regain the level lost during the latest sell-off.
ZEC Remains Well Above September Starting Levels
Zcash’s current pullback needs to be viewed against the scale of its September rally.
ZEC entered the month with strong momentum following the launch of the first U.S.-listed spot Zcash ETF. Grayscale converted its Zcash Trust into the ZCSH spot ETF on NYSE Arca in August, helping bring additional attention to the privacy-focused cryptocurrency.
By Sept. 16, ZEC was trading near $1,337 after gaining 20.46% in a single day. The token later moved above $1,500 and eventually traded above $1,600 before reversing lower.
Recent derivatives data also show that leverage has declined during the pullback. A Sept. 28 snapshot of OKX perpetual futures showed dollar open interest falling from $190.69 million to $164.95 million over 24 hours as ZEC declined.
The drop in open interest indicates that outstanding futures exposure decreased during that period. It does not, by itself, show whether buyers or sellers were responsible for the move.
On-chain data also showed activity from a large ZEC holder. Onchain Lens reported that a wallet withdrew 2,640 ZEC, worth about $3.72 million at the time, from Binance.
ZEC WHALE ACCUMULATES $20M IN A MONTH
A whale withdrew another 2.64K $ZEC (~$3.72M) from Binance two hours ago.
Over the past month, the wallet has accumulated 14.19K $ZEC (~$20M) from Binance and Gate. pic.twitter.com/SUeKci0uYb
— Onchain Lens (@OnchainLens) September 30, 2026
The same wallet reportedly accumulated 14,190 ZEC over the previous month through withdrawals from Binance and Gate. Exchange withdrawals alone do not confirm whether the holder plans to hold, transfer or eventually sell the tokens.
Gemini Moves Zcash Infrastructure Ahead of NU7
Zcash’s recent price decline comes as the network prepares for its next major upgrade.
Gemini said on Sept. 29 that it had moved its Zcash infrastructure to Zakura, an open-source full node written in Rust. The exchange made the change ahead of NU7, the network’s next planned upgrade.
According to Gemini, Zakura reached the latest blockchain state in a little over six hours during its deployments, compared with nearly one day using Zebra.
The infrastructure change should not alter the customer experience. Gemini said Zcash deposits and withdrawals will continue to operate as usual because the upgrade takes place behind the scenes.
NU7 is expected to reduce Zcash’s target block spacing from 75 seconds to 25 seconds. The change would cut the target interval by two-thirds and is currently planned for Nov. 5, according to the Zcash Foundation.
Before the upgrade, the Foundation released Zebra 6.4.2 on Sept. 25 after identifying a high-severity vulnerability in versions 6.4.0 and 6.4.1. The vulnerability could allow a peer to remotely crash a node, although the Foundation said it did not affect consensus or user funds.
What Comes Next for Zcash Price?
ZEC’s September rally has lost some of its momentum after ZEC failed to hold above $1,500. The immediate focus is now on whether buyers can defend the $1,400 area and push the price back above the $1,500 resistance.
A continued decline could bring $1,360 into focus before the lower $1,170-$1,210 zone identified by Alpha Crypto Signal.
At the same time, Zcash remains sharply higher on a monthly basis, while the upcoming NU7 upgrade adds another major development to the project’s broader outlook. For now, price action around the key support and resistance levels will determine whether the current move develops into a deeper correction or another attempt to recover the September highs.
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