Understanding Zcash's Price Fluctuations Through a Century-Old Market Theory

Zcash Price Decline: Zcash (ZEC) has seen a significant drop in price from $742 in November to $352, marking a 53% decrease and a reduction in market capitalization from over $11 billion to $5.8 billion.

Wyckoff Theory Explanation: The price movements of Zcash can be analyzed through the Wyckoff Theory, which describes the asset's transition through accumulation, markup, distribution, and markdown phases, culminating in panic selling after reaching a double-top pattern.

Potential for Relief Rally: There may be a brief relief rally for Zcash after retesting the support level at $305, although this could be a temporary rebound before continuing the downtrend.

Future Price Predictions: If Zcash falls below the $305 support, it could decline further to the next key support level at $215, indicating ongoing bearish sentiment in the market.