ZEC: Drops 51% to $251 on Orchard Vulnerability

ZEC touched $251 at 8 a.m. today, down almost 51% since Shielded Labs publicly disclosed the Orchard counterfeiting vulnerability 12 hours ago.

The vulnerability could have been exploited to undetectably create an unlimited amount of counterfeit ZEC within Orchard, with the issue fixed on June 2.

Price action on the 4h chart reveals a bearish trend with EMA50 at $541.66 and EMA200 at $520.8 acting as overhead resistance while RSI(14) at 24.62 signals oversold conditions and MACD at -46.86 confirms the death cross. With ZEC testing lower Bollinger support near $358.21 after the sharp drop from recent levels, a bounce attempt toward the $358 zone appears likely before any sustained recovery in this ZEC price prediction scenario.