Zcash price tests $400 support amid sellers' push

Zcash (ZEC) has slipped about 15% from its June 18 high near $500, trading around $412 on June 24. The decline follows the discovery of a critical flaw in the Orchard shielded‑pool, which was patched in an emergency upgrade but left investors wary of possible supply inflation.

Technical analysis shows bearish momentum, with the Relative Strength Index near 34 and the MACD in negative territory. Liquidation data indicate a concentration of short positions between $427 and $430, creating resistance that could trigger further selling if the $400‑$401 zone breaks. Analysts warn that a breach below $400 may open a path toward $343‑$350.

On the upside, the token would need to clear the $500 resistance level before targeting the $600‑$650 supply zone and higher levels around $688. Until then, Zcash is expected to remain in a consolidation range between $400 and $460, where high trading volume has provided a support base.