Zcash (ZEC), Starknet (STRK) and Ethena (ENA) started December on a sharply bearish note, extending last week’s pullback and emerging as the top crypto losers on Monday. All three tokens have posted significant declines in the last 24 hours, with momentum indicators signalling the possibility of further downside.
Zcash drops 10%, risks fall to $300 after Vitalik Buterin’s warning
Zcash slipped more than 10% on Monday, falling below the $400 mark and the 50-day Exponential Moving Average (EMA). The drop comes shortly after Ethereum co-founder Vitalik Buterin cautioned the Zcash community against adopting token-based voting, warning that it could erode the project’s privacy principles over time.
The RSI currently sits at 39, trending downward toward oversold territory, while the MACD has crossed below the zero line, signalling increased bearish momentum. Immediate support rests near the $300 psychological level, previously tested on October 30.
A recovery above the 50-day EMA at $433 could open the door for a push toward the $500 zone, but current indicators show sellers firmly in control.
Starknet struggles to hold $0.1000 amid continued selling
Starknet extended its downtrend for a fifth straight day, dropping over 5% at press time. The pullback from the 50-day EMA observed on Thursday continues to weigh on STRK, bringing it dangerously close to the key $0.1000 psychological level.
Technical indicators support the bearish outlook:
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RSI at 40 has slipped below the midpoint
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MACD and signal lines remain in a downward trajectory
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Red histogram bars continue forming below the zero line
A break below $0.1000 may expose the June 22 low at $0.0962 as the next support. For a reversal, bulls will need to defend the $0.1000 level and attempt a rebound toward the 50-day EMA at $0.1465.
Ethena weakens further, risks deeper losses inside falling channel
Ethena fell 5% on Monday after an 8% decline on Sunday, extending losses within a falling channel pattern on the daily logarithmic chart. The token’s RSI has slipped to 35, pointing toward increased selling momentum, while the MACD is close to crossing below its signal line — a classic sign of a bearish trend continuation.
ENA now risks breaking below the recent $0.2180 low from November 21. A failure to hold that level could drag the price toward the October 10 low at $0.1313.
However, holding above $0.2180 may allow bulls to attempt a double-bottom formation, with a potential rebound toward the channel resistance near $0.2900.
