Did you guys get in at 1300?
$ZEC ZEC is currently consolidating and absorbing selling pressure. Just go short at higher levels and long at lower levels!
ZEC has mainly been moving sideways over the past few days.
The late-September high was around 1690, and the current price is about 1320—a pullback of nearly 20%. Its market cap is currently around $22 billion, putting it near the top ten.
The broader market is falling, but ZEC has held up relatively well.
In the short term, I don't think the consolidation is over. Go long around 1300, with an initial target near 1400.
Reasons to be bullish:
1️⃣ The ETF has only just been filed and isn't fully priced in yet.
On October 6, Winklevoss filed an initial S-1 for a spot ZEC ETF, proposed to trade on Nasdaq under the ticker WINK. It would hold ZEC directly, with Gemini as custodian and an annual fee of 0.25%.
2️⃣ The privacy sector is being repriced.
The circulating supply is about 16.9 million, with a cap of 21 million. If a spot product launches, ZEC could have more upside potential than major market-cap coins.
This is a post-rally rotation, not a trend reversal.
3️⃣ There is incremental demand on the miner side.
Fortitude intends to purchase up to $100 million worth of next-generation ZEC mining machines and plans to use $20 million in DCB-related credit. It's a slow-moving factor, but it shows that someone is preparing to add computing power.
Things to watch:
ZEC ETFs have seen net outflows recently, and the broader market is also under pressure from oil prices and Treasury yields. If 1300 breaks, watch 1250–1200 first. The 1280–1300 range is suitable for short-term dip buying, but it's not a level to stubbornly hold at all costs.
Verifying my Binance Square account for YZi Labs Amplify via EchoHunt: EH-NK8NPK
$ZEC ZEC is currently consolidating and absorbing selling pressure. Just go short at higher levels and long at lower levels!
ZEC has mainly been moving sideways over the past few days.
The late-September high was around 1690, and the current price is about 1320—a pullback of nearly 20%. Its market cap is currently around $22 billion, putting it near the top ten.
The broader market is falling, but ZEC has held up relatively well.
In the short term, I don't think the consolidation is over. Go long around 1300, with an initial target near 1400.
Reasons to be bullish:
1️⃣ The ETF has only just been filed and isn't fully priced in yet.
On October 6, Winklevoss filed an initial S-1 for a spot ZEC ETF, proposed to trade on Nasdaq under the ticker WINK. It would hold ZEC directly, with Gemini as custodian and an annual fee of 0.25%.
2️⃣ The privacy sector is being repriced.
The circulating supply is about 16.9 million, with a cap of 21 million. If a spot product launches, ZEC could have more upside potential than major market-cap coins.
This is a post-rally rotation, not a trend reversal.
3️⃣ There is incremental demand on the miner side.
Fortitude intends to purchase up to $100 million worth of next-generation ZEC mining machines and plans to use $20 million in DCB-related credit. It's a slow-moving factor, but it shows that someone is preparing to add computing power.
Things to watch:
ZEC ETFs have seen net outflows recently, and the broader market is also under pressure from oil prices and Treasury yields. If 1300 breaks, watch 1250–1200 first. The 1280–1300 range is suitable for short-term dip buying, but it's not a level to stubbornly hold at all costs.
Verifying my Binance Square account for YZi Labs Amplify via EchoHunt: EH-NK8NPK