The shorts lost another round on ZEC this week—after Europe’s 21Shares ZEC spot ETP launched on Monday, the price surged from 1530 all the way to 1680, then pulled back to 1617. The shorts have been repeatedly slapped in the face more than once.
――― Direction: Buy low and look for upside, but don’t chase above 1650.
This is one of the few cases in privacy coins where both the regulatory channel and the price move upward at the same time: Grayscale’s trust inflows haven’t stopped, and this European ETP is the first exchange-level product to buy ZEC spot directly. Disagreement is also out in the open—bulls say this is a “compliant entry just opened,” while bears argue that with the rise from dozens of dollars to more than 20x, the profits should be realized eventually. The 1400–1600 range has already seen multiple false breakouts that fell back.
My view: The upward catalyst hasn’t disappeared, but sentiment is already running ahead of fundamentals. RSI pressing near 65 suggests there’s a bit of squeeze in the short term. At the current price of 1617, I won’t chase longs here.
The plan is simple: if it retraces to around 1500 and holds, then we can accumulate in batches. If it breaks below 1430—the 72-hour low—then that means we were wrong; the stop-loss goes there. On the upside, only if it breaks out with volume and holds above 1680 should we consider chasing a bit; otherwise, above 1650 is just wait, not buy.
#ZEC #隐私币
――― Direction: Buy low and look for upside, but don’t chase above 1650.
This is one of the few cases in privacy coins where both the regulatory channel and the price move upward at the same time: Grayscale’s trust inflows haven’t stopped, and this European ETP is the first exchange-level product to buy ZEC spot directly. Disagreement is also out in the open—bulls say this is a “compliant entry just opened,” while bears argue that with the rise from dozens of dollars to more than 20x, the profits should be realized eventually. The 1400–1600 range has already seen multiple false breakouts that fell back.
My view: The upward catalyst hasn’t disappeared, but sentiment is already running ahead of fundamentals. RSI pressing near 65 suggests there’s a bit of squeeze in the short term. At the current price of 1617, I won’t chase longs here.
The plan is simple: if it retraces to around 1500 and holds, then we can accumulate in batches. If it breaks below 1430—the 72-hour low—then that means we were wrong; the stop-loss goes there. On the upside, only if it breaks out with volume and holds above 1680 should we consider chasing a bit; otherwise, above 1650 is just wait, not buy.
#ZEC #隐私币
