The core development team of Zcash, ECC, suddenly faced a disguised dismissal by the higher-level non-profit organization, leading to the entire development team resigning. Both sides even accused each other of "straying from the original purpose of the project." This is not a typical personnel change but a high-level split.

Imagine a project's "brain" and "hands and feet" completely falling out — who will be responsible for protocol iteration? Who will safeguard network security? What is the future path of the ecosystem? All these questions hang in the air. The market's greatest fear has never been the bad news on the surface but the uncertainties that are invisible and intangible. This incident directly shattered investors' expectations of the project's long-term viability, constituting a deadly trust crisis.

In the short term, even if prices rebound, it is merely a panic seller’s escape window. They are waiting for a slight rebound to exit immediately.

From a technical perspective, the 4-hour chart is demonstrating a textbook descending continuation pattern. The two MACD lines have already formed a "death cross" below the zero axis, and the gap is widening, signaling absolute control by the bears. The price drops with increased volume, indicating this is not a main force shakeout but retail panic selling. The bulls' defense lines are being penetrated layer by layer.

The resistance level at 498 is a hard barrier, and above that, 530 is even more a pipe dream. The recent real focus is on the support at 435 — based on volume-price characteristics and market sentiment, this level is difficult to hold. Once broken, more downside space awaits.