Zcash Price Forecast: ZEC Faces 20% Downside as ETF Outflows Hit $8.49M Now!

Zcash (ZEC) is facing renewed selling pressure after falling below $1,300 on Thursday. The token has retreated sharply from its late-September peak, with market data showing ZEC trading near $1,240–$1,246 on October 8. The decline has coincided with continued withdrawals from the Grayscale Zcash ETF (ZCSH), raising questions about near-term institutional demand.

SoSoValue data reported an $8.49 million net outflow from ZEC spot ETFs on October 7, with the entire outflow attributed to ZCSH. Despite the latest redemption, the ETF has accumulated about $201 million in net inflows since launch, showing that broader institutional interest in Zcash has not disappeared.

The short-term picture remains weaker as investors assess whether the recent selling represents routine profit-taking or a deeper change in demand.

Winklevoss Filing Adds Long-Term Support

The bearish flow data comes alongside a significant development for Zcash. Cameron and Tyler Winklevoss filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on October 6 for the proposed Winklevoss Zcash ETF.

The filing says the proposed product would hold ZEC and seek to provide investors with exposure to its price, less the fund’s expenses and liabilities. The filing does not guarantee approval or establish a launch date, but it adds another potential institutional route for investors seeking exposure to the privacy-focused cryptocurrency.

At the same time, ZEC’s market structure remains under pressure:

• $8.49M: latest reported ZEC ETF net outflow.
• $201M: cumulative net inflows reported for ZCSH.
• $1,240–$1,246: approximate ZEC price on October 8.
• $1,050: key downside level highlighted by the technical setup.

Zcash Technical Outlook Turns Bearish

ZEC’s technical structure is increasingly vulnerable. The token has moved below several short-term moving averages, while broader technical readings remain bearish. Investing.com’s October 8 indicators showed a Strong Sell reading, with the MACD negative and multiple moving averages signaling selling pressure.

A sustained break below the $1,287 area, corresponding to the 200-period EMA in the supplied technical setup, would strengthen the bearish case. The next major target is around $1,050, based on the September 4 high. A decline from roughly $1,246 to $1,000 would represent about 20%, making the psychological $1,000 support level an important risk marker.

On the upside, reclaiming the $1,287 area would weaken the immediate bearish setup. A move above the $1,355 region, associated with the 50-period EMA in the supplied analysis, would provide a stronger signal that sellers are losing control.

Conclusion

Zcash faces a clear conflict between weakening short-term ETF flows and a new institutional filing from the Winklevoss brothers. The $1,287 area is the first major technical hurdle, while a decisive breakdown could expose ZEC to $1,050 and eventually the $1,000 psychological level. Until those resistance levels are reclaimed, the near-term risk remains tilted lower.