Zcash has retreated from nearly $1,688 during its September rally, with the token falling 2.68% in one hour on September 30 to $1,435 from $1,475. ZEC was also 0.52% lower than the previous day, while liquidations totaled $1.71 million for long positions and $1.41 million for short positions. Earlier market commentary had placed the token near $1,412 and cited the loss of $1,500 support, with $1,420 also identified as a key level. ZEC has gained about 2,000% over the past year, helped in part by the launch of Europe’s first ZEC ETP. X user Ardi remains bullish but said a breakdown could send the token toward $1,250 or lower, while Nick O’Neill described the pullback as healthy and said he hoped to buy below $1,000. The retreat has coincided with whale selling, including Oxf562’s sale of 25,001 ZEC for more than $37.8 million after buying two months earlier at an average of $425 and realizing more than $27 million in profit. Other commentators have outlined steeper downside scenarios, including a move below $500 over one to three years, a possible fall to $200 if the long-term structure reverses, or a decline toward $1,000 after a cycle top.