<p>Zcash [ZEC] 最近在价格图表上大幅下跌，原因是治理冲突导致电币公司（ECC）退出。该团队是 Zcash 背后的关键开发者之一。</p>
<p>此次抛售反映了市场的即时恐慌。尽管根据 EEC 首席执行官 Josh Steward 的说法，Zcash 协议并未受到影响。</p>
<p>AMBCrypto 之前报道，隐私领域在 2025 年第四季度表现突出——这一趋势可能会在 2026 年继续。上述短期波动可能不会触发自九月以来的收益重置。</p>
<h2>评估长期 Zcash 波动结构</h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/ZCash-1-day-Chart.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1940" height="1035" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/ZCash-1-day-Chart.png"/></p>
<p>来源：TradingView 上的 ZEC/USDT</p>
<p>虽然 1 日图表显示隐私代币的内部结构看跌，但波动结构是看涨的。从 $187 到 $750 的波动被用来绘制一组斐波那契回撤水平。</p>
<p>这一波动的低点需要被突破，以表明长期趋势的变化。就目前而言，投资者仍然可以认为 ZEC 处于回撤阶段。</p>
<p>$371 和 $307 这两个水平将是下一个需要关注的支撑区。A/D 和 CMF 指标显示，最近几天卖压很大。RSI 也跌破了中性 50，表明看跌动能的转变。</p>
<p>因此，未来几天和几周内价格下跌似乎是可能的。</p>
<p>对于长期 Zcash 投资者来说，重新测试 $300 可能提供一个买入机会。然而，他们需要对自己的看涨观点有明确的无效化标准。</p>
<h2>论证 Zcash 短期看涨的理由</h2>
<p>价格可能会从 $370-$400 的需求区反弹，正如它在 12 月中旬所做的那样。比特币 [BTC] 多头一直在争夺 $90k 的整数关口。胜利可能会刺激短期收益，这可能帮助 ZEC 回升至 $400 以上。</p>
<p>就目前而言，ZEC 不太可能出现短期看涨。</p>
<h2>交易者的行动呼吁 – 卖出</h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/ZCash-2-hour-Chart.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1835" height="955" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/ZCash-2-hour-Chart.png"/></p>
<p>来源：TradingView 上的 ZEC/USDT</p>
<p>早些时候，1 日图表显示 $450 区域在周五被重新访问，作为供应区。1 小时图表对此走势提供了更多的清晰度。这是一次反弹和对阻力区的重新测试，随后进入持续的下行趋势。</p>
<p>在撰写时，$381 的局部低点正在受到挑战，并可能被突破。$371 这一水平，过去一个月被突出为重要支撑，将是一个关键水平。跌破该水平意味着交易者应考虑卖出 ZEC，目标为 $345 和 $307-$288。</p>
<hr/>
<h2>最终思考</h2>
<ul>
<li><em>价格跌破 $370，受到近期动荡和 ZEC 情绪转变的影响，可能是很有可能的。</em></li>
<li><em>长期投资者可以在 $300 处买入，这是 78.6% 的斐波那契回撤水平，但必须有明确的退出策略，以防进一步损失。</em></li>
</ul>
<p><strong>免责声明：所提供的信息不构成财务、投资、交易或其他类型的建议，仅代表作者的观点。</strong></p>

COIN

<p>Zcash (ZEC) 在电币公司退出后经历了显著的抛售，尽管首席执行官保证协议未受影响，但市场仍然出现了恐慌。价格显示出看跌动能，关键支撑位在 $371 和 $307。潜在的反弹可能发生在 $370-$400 的需求区间，但短期内看涨的可能性似乎不大。长期投资者可能会在 $300 附近找到买入机会，但应准备进一步的损失。总体而言，预计价格将跌破 $370，这促使交易者考虑出售 ZEC</p>

<p>Zcash [ZEC] has fallen dramatically on the price charts in recent days, following the governance clash that saw the Electric Coin Company (ECC) quit. This team was one of the key developers behind Zcash.</p>
<div class="lb-trans"><p>Zcash [ZEC] 最近在价格图表上大幅下跌，原因是治理冲突导致电币公司（ECC）退出。该团队是 Zcash 背后的关键开发者之一。</p>
</div><p>The sell-off reflected immediate market panic. Even though according to EEC CEO Josh Steward, the Zcash protocol remained unaffected.</p>
<div class="lb-trans"><p>此次抛售反映了市场的即时恐慌。尽管根据 EEC 首席执行官 Josh Steward 的说法，Zcash 协议并未受到影响。</p>
</div><p>AMBCrypto had previously reported that the privacy sector was a top-performing narrative in Q4 2025 – A trend that could continue in 2026. The aforementioned short-term volatility might not trigger the reset of the gains made since September.</p>
<div class="lb-trans"><p>AMBCrypto 之前报道，隐私领域在 2025 年第四季度表现突出——这一趋势可能会在 2026 年继续。上述短期波动可能不会触发自九月以来的收益重置。</p>
</div><h2>Assessing the long-term Zcash swing structure</h2>
<div class="lb-trans"><h2>评估长期 Zcash 波动结构</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/ZCash-1-day-Chart.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/ZCash-1-day-Chart.png"/></p>
<p>Source: ZEC/USDT on TradingView</p>
<div class="lb-trans"><p>来源：TradingView 上的 ZEC/USDT</p>
</div><p>While the 1-day chart revealed a bearish internal structure for the privacy token, the swing structure was bullish. The swing move from $187 to $750 was used to plot a set of Fibonacci retracement levels.</p>
<div class="lb-trans"><p>虽然 1 日图表显示隐私代币的内部结构看跌，但波动结构是看涨的。从 $187 到 $750 的波动被用来绘制一组斐波那契回撤水平。</p>
</div><p>The low of this swing move needs to be breached to indicate a long-term trend change. As things stand, investors can still consider ZEC to be within a retracement phase.</p>
<div class="lb-trans"><p>这一波动的低点需要被突破，以表明长期趋势的变化。就目前而言，投资者仍然可以认为 ZEC 处于回撤阶段。</p>
</div><p>The $371 and $307-levels would be the next support zones to watch. The A/D and CMF indicators showed that selling pressure has been high in recent days. The RSI also slipped below neutral 50 to indicate a bearish momentum shift.</p>
<div class="lb-trans"><p>$371 和 $307 这两个水平将是下一个需要关注的支撑区。A/D 和 CMF 指标显示，最近几天卖压很大。RSI 也跌破了中性 50，表明看跌动能的转变。</p>
</div><p>Hence, a price drop appeared likely in the coming days and weeks.</p>
<div class="lb-trans"><p>因此，未来几天和几周内价格下跌似乎是可能的。</p>
</div><p>For long-term Zcash investors, a retest of $300 could offer a buying opportunity. However, they will need to have clear invalidations for their bullish ideas.</p>
<div class="lb-trans"><p>对于长期 Zcash 投资者来说，重新测试 $300 可能提供一个买入机会。然而，他们需要对自己的看涨观点有明确的无效化标准。</p>
</div><h2>Arguing Zcash’s short-term bullish case</h2>
<div class="lb-trans"><h2>论证 Zcash 短期看涨的理由</h2>
</div><p>Prices may rebound from the $370-$400 demand zone, as they did in mid-December. Bitcoin [BTC] bulls have been fighting for control of the $90k round-number level. A victory could spur short-term gains, and this could help ZEC climb back above $400.</p>
<div class="lb-trans"><p>价格可能会从 $370-$400 的需求区反弹，正如它在 12 月中旬所做的那样。比特币 [BTC] 多头一直在争夺 $90k 的整数关口。胜利可能会刺激短期收益，这可能帮助 ZEC 回升至 $400 以上。</p>
</div><p>As things stand, ZEC is unlikely to see short-term bullishness.</p>
<div class="lb-trans"><p>就目前而言，ZEC 不太可能出现短期看涨。</p>
</div><h2>Traders’ call to action – Sell</h2>
<div class="lb-trans"><h2>交易者的行动呼吁 – 卖出</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/ZCash-2-hour-Chart.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/ZCash-2-hour-Chart.png"/></p>
<p>Source: ZEC/USDT on TradingView</p>
<div class="lb-trans"><p>来源：TradingView 上的 ZEC/USDT</p>
</div><p>Earlier, the 1-day chart had revealed that the $450-area had been revisited on Friday as a supply zone. The 1-hour chart gave this move more clarity. It was a relief rally and a retest of a resistance zone before a sustained downtrend.</p>
<div class="lb-trans"><p>早些时候，1 日图表显示 $450 区域在周五被重新访问，作为供应区。1 小时图表对此走势提供了更多的清晰度。这是一次反弹和对阻力区的重新测试，随后进入持续的下行趋势。</p>
</div><p>At the time of writing, the local low at $381 was being challenged and was likely to be overcome. The $371-level, previously highlighted as a prominent support over the past month, will be a pivotal level. A drop below this level would mean traders should look to sell ZEC, targeting $345 and $307-$288 next.</p>
<div class="lb-trans"><p>在撰写时，$381 的局部低点正在受到挑战，并可能被突破。$371 这一水平，过去一个月被突出为重要支撑，将是一个关键水平。跌破该水平意味着交易者应考虑卖出 ZEC，目标为 $345 和 $307-$288。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Thoughts</h2>
<div class="lb-trans"><h2>最终思考</h2>
</div><ul>
<li><em>A price drop below $370, fueled by the recent turmoil and ZEC sentiment shift, may be likely.</em></li>
<li><em>Long-term investors can look to buy at $300, the 78.6% Fibonacci retracement level, but must have clear strategies to exit in case of further losses.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>价格跌破 $370，受到近期动荡和 ZEC 情绪转变的影响，可能是很有可能的。</em></li>
<li><em>长期投资者可以在 $300 处买入，这是 78.6% 的斐波那契回撤水平，但必须有明确的退出策略，以防进一步损失。</em></li>
</ul>
</div><p><strong>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</strong></p>
<div class="lb-trans"><p><strong>免责声明：所提供的信息不构成财务、投资、交易或其他类型的建议，仅代表作者的观点。</strong></p>
</div>

Analyzing how bad Zcash’s latest sell-off really is after ECC’s exit

- Zcash 近期因治理冲突大幅下跌，市场出现恐慌性卖出。  
- 长期支持区在 $371 与 $307，未来几周可能继续下跌。  
- 投资者可考虑在 $300 重新买入，需有明确的退出策略。

分析 ECC 退出后，Zcash 最近的抛售情况到底有多严重