Zcash falls nearly 30% from September high amid prolonged crypto selloff
Zcash has dropped nearly 30% from its September peak amid a broader crypto selloff. Key catalysts include a potential spot ETF and the NU7 network upgrade.
Two altcoins within 3% of records, while Rain requires a larger move for a new all-time high.
Within the past 10 days, WhiteBIT Coin (WBT), Hyperliquid (HYPE), and Rain (RAIN) each set new all-time highs. All three are now trading just below those peaks rather than declining.
Two of the three are within approximately 3% of a new record. RAIN requires a much larger gain, making it the least likely among the three to hit a new high this weekend.
WBT changed hands at $73.05, up 1.49% over the past day, for a market cap close to $8.6 billion. Its all-time high of $74.87 was set on Aug. 25.
Since surpassing its previous high of $64.43, WBT has remained in price discovery. An ascending parallel channel emerged in early February, then broke down ahead of a June decline to $42.38, before recovering on Aug. 21.
The channel's upper boundary near $72.50 has held as support. Resistance is set between $73.50 and $75.05. In early August, WBT tested a similar zone but did not break through. The RSI currently sits at 69, down from 80 in late August, suggesting momentum is cooling.
HYPE traded at $85.39 following a 3.36% daily advance, with a market cap of roughly $19 billion, the 10th largest. Its all-time high of $88.06 was recorded on Sept. 3.
Two targets are above the current price. A new record needs a 3.1% move. The 1.272 Fibonacci level at $92.37 requires 8.2% and marks the top of a supply zone beginning at $88.50. Hyperliquid had previously been listed among altcoins highlighted for September.
Support begins at the previous high of $77.00. Lower down, a rising trendline from the February bottom is around $57, converging with the 0.618 Fibonacci retracement at $55.41 and tested three times since March. An RSI of 66 indicates weakening momentum, yet HYPE has added nearly 70% since Aug. 2.
RAIN changed hands at $0.01661, giving it a market cap close to $11.8 billion. Its all-time high of $0.01943 was set on Aug. 25, meaning a fresh record this weekend would require nearly 17%. This makes RAIN the least probable among the trio.
The longer-term picture remains bullish. A breakout in late May pushed RAIN from $0.0067, and the token has formed higher lows while maintaining support at $0.01624. RAIN also traded near its record in mid-July.
Resistance is at the 1.272 Fibonacci extension of $0.01884, about 3% below the record. Support levels are at $0.01420 and $0.01259. However, volume has declined for four sessions and the RSI has dropped from 78 to 60. Momentum might not be sufficient to drive the price that high.
Share to
Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
Zcash has dropped nearly 30% from its September peak amid a broader crypto selloff. Key catalysts include a potential spot ETF and the NU7 network upgrade.
Santiment reports Solana's network growth jumped 124% since early September, adding 1.71 million new wallets daily.
Bitget is expanding institutional custody and settlement options, from off-exchange models to regulated custodians, as more hedge funds add crypto exposure.
XRP fell for a fourth day as negative funding rates and rising U.S. Treasury yields weighed on sentiment, with key support near $1.400 under threat.