Monero broke $650 this week and continued to climb as traders exited Zcash amid internal management disputes. The change marked a sharp turn within the cryptocurrency market.
XMR he fell $670 in the last 24 hours and reached around $579 during the start of the Asian session on Jan. 12, based on market data and price trackers.
The monthly chart posted by Ali Charts shows that Monero is still moving within the long-term bullish channel that has shaped its trend since 2020.
I bet those so-called “OGs” replaced Bitcoin $BTC because Monero $XMR you will be very disappointed if… pic.twitter.com/Nl9f6yDoPl
– Ali Charts (@alicharts) January 12, 2026
The price touched the upper boundary of that channel near $600 and then declined, indicating strong resistance at that level.
The pullback shows cooling momentum after a quick rally, but the major trend is still strong as long as XMR stays above the rising support area near $300.
The pattern looks like a multi-year combination with a slightly higher decline than a reversal.
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Why Is Monero Trading Near $600 While Zcash Is Facing Governance Chaos?
In Zcash’s case, the pressure comes from disputes over governance and control of key ecosystem assets. Analysts call Zcash a “portfolio killer.”
The entire Zcash engineering team has just resigned.
I $ZEC mark down 20% on news.
Is this the only privacy meta? pic.twitter.com/ky6wyUy8vg
— Lark Davis (@LarkDavis) January 8, 2026
Zcash is pulling back on the daily chart after a strong rally earlier this month. The price faced tough resistance between $470 and $500, an area that corresponds to key Fibonacci levels.
That place has now become a temporary place.
Before descending, ZEC was moving upward within an ascending channel. Print it high and low. But the momentum is fading as the price reaches the Fibonacci range of 0.618–0.786.
Sellers entered, and the price broke below the lower limit of the channel.
Since then, the tone has changed. Several solid red candles suggest that the sellers are currently in control. The structure points to a deep pullback rather than a quick jump.
#ZEC / USDT – Daily Time Analysis$Zcash it is currently in a correction path after a strong move, and the price is reacting to a major Fibonacci resistance area, which is now acting as an asset.
$470 – $500
If ZEC finds support around $300 – $320 and clearly shows… pic.twitter.com/0Qz8WEmTkI
– Rose Premium Signs 🌹 (@VipRoseTr) January 12, 2026
Attention has moved to the $300–$320 area. This area is like the previous support and the base of the big move. The analyst said that Zcash is “currently in a pullback after a strong move.”
He added that if ZEC “finds support around $300-$320 and shows a clear reaction,” the market could rise again.
Holding that level will keep the broader upside strong and reopen the path to $500 and beyond.
Bootstrap said the conflict arose because of legal and fiduciary restrictions on the nonprofit.
The issues arose as the board discussed external funding and structures that could make Zashi private, a self-sustaining wallet designed for private Zcash transactions.
The Electric Coin Company (ECC) has retreated. It said recent management changes had made its work impossible to continue.
Financial Power quoted ECC CEO Josh Swihart, who said the workers were “relieved in a positive way.”
This shift is also happening as regulators tighten their stance on privacy-focused crypto.
In Dubai, the Dubai Financial Services Authority said updates to its Crypto Token regime went into effect on January 12.
The revised rulebook expressly prohibits the use of “privacy tokens” within the Dubai International Financial Center.
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