Zcash drops 15% in a day, but analysts call it a ‘gift’.
The broader crypto market retreated after U.S. inflation surprised on the upside. Bitcoin fell 3% daily, while Zcash (ZEC) slid to below $1,100, trimming its market capitalization to nearly $18.3 billion yet keeping it among the top 10 cryptocurrencies.
X Finance Bull, who sold his ZEC position at $1,500 earlier this year, says the fresh correction has prompted him to revisit the chart and fundamentals. Altcoin Sherpa, with over 260,000 followers, labeled a move toward $1,000 as a “gift.” Jesse Olson predicts a short‑term dip toward $900 followed by a possible rally up to $1,600.
Technical data shows ZEC’s RSI has fallen to 30, placing it in oversold territory, while CoinGlass reports net inflows now exceed outflows, suggesting heightened short‑term selling pressure on centralized platforms.
Given the oversold RSI and shifting netflow, do you view Zcash as a buying opportunity or merely a temporary trough?
#Zcash #Altcoins #CryptoMarket #PrivacyCoin #RSI
The broader crypto market retreated after U.S. inflation surprised on the upside. Bitcoin fell 3% daily, while Zcash (ZEC) slid to below $1,100, trimming its market capitalization to nearly $18.3 billion yet keeping it among the top 10 cryptocurrencies.
X Finance Bull, who sold his ZEC position at $1,500 earlier this year, says the fresh correction has prompted him to revisit the chart and fundamentals. Altcoin Sherpa, with over 260,000 followers, labeled a move toward $1,000 as a “gift.” Jesse Olson predicts a short‑term dip toward $900 followed by a possible rally up to $1,600.
Technical data shows ZEC’s RSI has fallen to 30, placing it in oversold territory, while CoinGlass reports net inflows now exceed outflows, suggesting heightened short‑term selling pressure on centralized platforms.
Given the oversold RSI and shifting netflow, do you view Zcash as a buying opportunity or merely a temporary trough?
#Zcash #Altcoins #CryptoMarket #PrivacyCoin #RSI