$ZEC this move has some interesting rhythm. Over the past 24 hours it has risen 9.88%, and in the most recent full hour it added another 4.75%. The increase is not explosive, but hourly trading volume has jumped to 3.37 times the recent median. With volume suddenly this large, market activity is clearly picking up.
At the same time, open interest over the past 24 hours has increased by 2.71%, which suggests new funds are entering to build positions rather than just existing positions being churned back and forth. If this combination holds, with price staying above support, trading volume remaining strong, and open interest continuing to follow, then the trend-following logic is complete.
On the other hand, the biggest risk is that volume shrinks again and price pulls back after rising, in which case the strength of this rally would be discounted. For now, there is no need to chase it; waiting for the structure to develop on its own is safer.
At the same time, open interest over the past 24 hours has increased by 2.71%, which suggests new funds are entering to build positions rather than just existing positions being churned back and forth. If this combination holds, with price staying above support, trading volume remaining strong, and open interest continuing to follow, then the trend-following logic is complete.
On the other hand, the biggest risk is that volume shrinks again and price pulls back after rising, in which case the strength of this rally would be discounted. For now, there is no need to chase it; waiting for the structure to develop on its own is safer.