- On April 17, the Zcash price dropped by around 4.39% on a daily chart, forcing its value to drop below $330 following growing selling pressure due to profit booking.
- The drop comes amid the bullish sentiment in the overall crypto market, where Bitcoin (BTC) soared above $77,000 amid reduced geopolitical tension.
- Technical indicators are showing a bearish trend in the cryptocurrency, supported by the altcoin season index.
Despite the bullish sentiment in the overall crypto market, the leading privacy coin, Zcash (ZEC), suffered a drop of around 4.23% on a daily chart, declining its value by $330.
At present, Zcash is trading at around $328.69 with a market capitalization of $5.46 billion, according to CoinMarketCap. The daily trading volume is revolving around $468.36 million.
While the ZEC price witnessed back-to-back drops in the last few days, it still has a monthly gain of around 33%.
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