I think $ZEC is shrugging off a red crypto market today, and ETF money is why.
Zcash ETFs pulled in roughly $41 million in fresh inflows in the past day, as Bitcoin struggles to hold $80k and, to my eye, most altcoins bleed. ZEC is trading in the $1,200 zone while, in my view, the rest of the market is in the red.
I'm leaning bullish here. I think ZEC can retest $1,300 over the next week or two, with the NU7 upgrade set to hit mainnet November 5 as the next catalyst.
Support sits near $1,150, resistance at $1,300. I'd drop this view if ZEC closes a daily candle under $1,100.
One risk: a key Zcash dev just paused a staking upgrade, and ZEC futures are carrying billions in open interest, so a sharp move either way can happen fast. 🔒
Does ZEC keep leading privacy coins into November, or does this fade once the ETF flows cool off?
#ZEC #PrivacyCoins #Crypto
Zcash ETFs pulled in roughly $41 million in fresh inflows in the past day, as Bitcoin struggles to hold $80k and, to my eye, most altcoins bleed. ZEC is trading in the $1,200 zone while, in my view, the rest of the market is in the red.
I'm leaning bullish here. I think ZEC can retest $1,300 over the next week or two, with the NU7 upgrade set to hit mainnet November 5 as the next catalyst.
Support sits near $1,150, resistance at $1,300. I'd drop this view if ZEC closes a daily candle under $1,100.
One risk: a key Zcash dev just paused a staking upgrade, and ZEC futures are carrying billions in open interest, so a sharp move either way can happen fast. 🔒
Does ZEC keep leading privacy coins into November, or does this fade once the ETF flows cool off?
#ZEC #PrivacyCoins #Crypto